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MLC demands improved compensation

Tynwald has been told there are no plans at present to increase the maximum sum available under the Isle of Man Depositors' Protection Scheme.

Treasury Minister Allan Bell acknowledged the Chancellor Alistair Darling was proposing a rise to £50,000 in the United Kingdom, but said nothing was likely to happen there for some time.

Mr Bell, who announcement last month the Isle of Man scheme would stay the same, told Tynwald the Treasury would continue to monitor other jurisdictions, notably the UK, Jersey and Guernsey, for any changes.

David Callister MLC told him the Manx scheme was no longer adequate:

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