Abrogation not an option, says Treasury Minister

Ramsey MHK Anne Craine has ruled out dumping the VAT sharing agreement with the UK, despite losing tens of millions of pounds during recent renegotiations.

Mrs Craine, who’ll be defending her seat in Ramsey in September’s general election, says the Isle of Man still benefits greatly from the agreement even after the latest bombshell.

She says whoever is in government after the Autumn polls will have to look carefully at its options when it comes to cutting budgets.

But she maintains abrogation remains out of the question.