Members of the Rushen and Western Rotary Club may be feeling more optimistic about how the Isle of Man is faring in the current economic climate this morning (Wednesday).

Trade and Industry Minister David Cretney (pictured) gave a presentation to the club last night and reassured them the Island was well placed to weather the global financial storm.

He said government had learnt from the past about the need to constantly evolve the economy and referred to successes with the aircraft and shipping registers and e-gaming.

Mr Cretney reassured members he wasn't complacent, he remembered a time during the mid-eighties when there was high unemployment and no government reserves.

In conclusion he stressed the need to show initiative and maintain a 'can-do approach' and vowed to continue working towards ensuring a positive future for the next generation.