A Tynwald committee has announced it’s to investigate the £4.5 million government bailout given to the Sefton Group.
The controversial deal will see the government lend the group £1.3 million and buy the Middlemarch site in central Douglas from it – leasing it back to the group.
The moves have sparked furious debate in the House of Keys over the past fortnight – and Chief Minister Allan Bell has now asked the Economic Committee to look into it.
The Economic Policy Review Committee, made up of chairman Leonard Singer MHK, Middle MHK Howard Quayle and Dudley Butt MLC, has written to the government asking for written evidence.
The committee says it’s been asked to investigate because of the significant public interest the decision created.
Mr Singer says after seeing the government’s initial written submissions, the committee members will ask for written evidence from others.
It will also hold public hearings to take oral evidence.
And Mr Singer also says in due course the committee would also welcome evidence from members of the public.