On Air Saturday Breakfast Tom Cain | 6:00am - 8:30am

Island defies worldwide recession

Chief Minister Allan Bell says he is pleased with the latest set of government accounts, which show the Isle of Man has defied a worldwide recession.

The figures, released last week, are based on the Island’s income tax receipts, and show its Gross Domestic Product grew over the year 2009 to 2010.

That period covers the worst effects of the credit crunch and the beginning of the Eurozone's debt crisis.

Mr Bell says while most of the world has been caught up in a downturn, the Manx economy has stayed strong:

Clip 1

More from Isle of Man Business