Steam Packet 'wolf in sheep's clothing'

Tynwald members rejected £170 million deal yesterday

An MHK has warned fellow politicians not to be 'lured in' to a long-term deal with the Steam Packet.

Martyn Perkins spoke out yesterday, as Tynwald members agreed to reject the company's multi-million pound offer to extend its user agreement past 2026. 

Ministers say they want to weigh up the options.

The Steam Packet was acquired by Portuguese lenders Banco Espirito Santo six years ago.

But fears have been growing about its future, after it received a €4.4 billion bailout in 2014.

Mr Perkins told colleagues not to be enamoured by the Steam Packet's long tradition in the Island: