It is hoped that by the autumn the government will have a more informed idea of which companies might wish to use the 'lit' or activated fibre optic cables under the Irish Sea.

Discussions will also assess their competence to use it and what benefits it might bring to the Manx Electricity Authority's Manx Cable Company in the first instance and to the Island generally.

Adverts have gone out locally and a number of the bigger players, like Manx Telecom have been approached directly.

Chief Minister Donald Gelling (pictured) told Tynwald that the high price of telecommunications has concerned those looking to establish on the Island and indeed has, in some cases, led to them seeking another jurisdiction.