Select committee to investigate failed equity scheme
Homeowners who lost out to a failed Government Equity Scheme are to receive answers after almost fifteen years.
The Harcroft Meadows project saw some 80 properties sold to first-time buyers in 2001, with Government keeping a 30 per cent share of their value.
But a sharp rise in house prices meant owners faced losing out if they sold or renovated their homes.
Now Tynwald has agreed to the formation of a Select Committee to investigate the issue.
Douglas South MHK Bill Malarkey explains how the situation came about:
Amber weather warning issued as strong winds and coastal conditions expected overnight
Hospice funding criticised by UK charity chief amid Isle of Man service cuts
Sailings cancelled as storm brings gale-force winds
Manx Mountain Marathon route diverted over safety concerns amid forecast strong winds
