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Government monitoring dormant bank account situation

by isleofman.com 30th May 2006
Questions were raised in the House of Keys again on Tuesday over the possibility of the Isle of Man government raising money from dormant bank accounts.

Onchan MHK Peter Karran, asked Treasury Minister Alan Bell (pictured) whether he would consider using the cash involved to fund the public sector, rather than letting it sit unclaimed.

A similar scheme is already in use in the Republic of Ireland, and the idea is being considered in the United Kingdom by Chancellor Gordon Brown.

Mr Bell believes the issue is complex and not as easy to implement as generally thought.

He told members he was monitoring the UK situation closely and would continue to keep the House informed:
Posted by isleofman.com
Tuesday 30th, May 2006 07:39pm.

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