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£50m investment will bring £250m boost - minister

Every pound government spends, £5 will go into the Manx economy

Each pound the government spends supporting business under a new scheme will bring five pounds into the Manx economy.

So says Economic Development Minister Laurence Skelly after Tynwald approved a £50 million fund to help local companies and create jobs.

The cash will be spent investing in companies, and Mr Skelly says the returns from those investments will allow the scheme to fund itself in to the future.

He says the idea is to bring new companies here as well as support those who may need help:

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