The Treasury Minister has painted a bleak picture about the Isle of Man's immediate economic future.
In the House of Keys this morning (Tuersday), Allan Bell told members the next two years were going to be the most challenging since World War Two, with possible tax rises and spending cuts needed to balance the books.
It follows the United Kingdom's decision to cut VAT to 15 per cent which will lead to a potential shortfall of ?40 million pounds to Manx coffers.
UK Treasury officials are also going to investigate the Island's regulatory system.
Mr Bell will go to London to discuss the review on Thursday, but says it has nothing to do with the constitutional relationship between the jurisdictions.
However, he feels there are testing times ahead (audio file attached):
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
