Moody's is 'right to be cautious'

Treasury minister reacts

The Treasury Minister has welcomed a report which claims the Isle of Man's economy will be overall worse off after Brexit.

Credit rating agency Moody's has released its annual national evaluation, which suggests the Island is facing a large amount of uncertainty, and will only have its outlook improved if the UK can achieve the same.

Alfred Cannan has emphasised the report's references to 'prudent' fiscal management by the government, especially with regard to pensions and population challenges.

But he says the government must remain 'focused' as the UK prepares to leave Europe - adding Moody's has 'every right to be cautious'.

Mr Cannan agrees it is an uncertain time: