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Clarity required over MUA finances

Independent review findings due this summer

The Treasury Minister insists he’s keeping an open mind ahead of the findings of an independent review assessing the financial position of the Manx Utilities Authority.

Alfred Cannan instigated the inquiry shortly after his appointment last autumn.

The body has debts in the region of £500 million, largely from when the debt laden former Manx Electricity Authority merged with the Water Authority to form the MUA two years ago.

The review is due to be published this summer.

Mr Cannan says more clarity is required about how to reduce debt levels and plan the authority’s long-term future.

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