'Manx economy not entirely tied to UK forecasts'

Plans afoot to avoid downturn says CM

Growth of the Manx economy shouldn't be too closely affected by economic forecasts in the UK according to the Chief Minister Howard Quayle. 

UK chancellor Phillip Hammond recently announced a budget described as 'cautious' by some commentators, after growth forecasts there were slashed amid the uncertainty of Brexit.

The number of people in work on the Island increased according to a recent report published by government's economic affairs unit.

However the Island's GDP failed to grow for the first time in 32 years, shrinking 0.9 per cent in the year 2015/16.

Mr Quayle says as our largest trading partner, what happens in the UK will make a difference, but shouldn't be a defining factor in growth: