NI Fund figures explained by minister

Discrepancy between two reports

Hugely different estimates of when the Island’s National Insurance Fund would run out were given because different data was used in two reports.

So says Treasury Minister Eddie Teare, as he faced questions on the issue in the House of Keys this morning from West Douglas MHK Chris Thomas.

Mr Thomas wanted to know why a UK government report last March and one by consultants at Mercer last July were so different.

Mr Teare explained extra data had been available when the Mercer study was carried out: