Treasury Minister Allan Bell says he’s confident the UK government won’t move to close down Island banks it now effectively owns.
With the nationalisation of many UK banking groups, a number of Isle of Man subsidiaries are now under the control of Prime Minister Gordon Brown.
Last week, Liberal Democrat deputy leader Vince Cable called for the UK to shut the offshore banks, which he accused of aiding tax evasion.
But Mr Bell says Mr Cable hasn’t understood the economic complexities (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.
