The new chairman of the Office of Fair Trading says there are many challenges ahead, the biggest being how to deal with rising fuel costs and associated issues.
North Douglas MHK Bill Henderson's appointment was officially confirmed in Tynwald yesterday.
Mr Henderson (pictured) says he will do everything he can, including reviewing current legislation, to make sure nobody takes advantage of the Island's consumers.
However, he adds that people shouldn't expect miracles:
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It comes after recent changes to the UK's BSE status have caused 'huge problems' for Manx farmers