VAT agreement 'noted' not 'approved'

After around three hours of debate Tynwald voted today (Tuesday) to 'note' the new revenue sharing arrangement with the United Kingdom, rather than 'accept and approve' it.

The change to the wording was in an amendment from Speaker of the House of Keys Steve Rodan, which was approved by all but four members.

Treasury Minister Anne Craine says it's not known yet exactly how much the redrawn agreement will be worth to the Isle of Man, but it's still a 'substantial' sum: