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Former Chief Minister worried over finance sector Brexit effect

Donald Gelling

IoM not strangers to upheaval

A former Chief Minister and Treasury Minister says he’s worried about the future of the Island’s finance sector in the wake of the EU referendum result.

Donald Gelling, who also chaired the Financial Supervision Commission and helped found Isle of Man Finance, says the Leave result threatens a vital aspect of the industry: stability.

Mr Gelling says banks and other institutions dislike uncertainty and the industry may suffer until definite plans can be put forward by the UK.

He says he was shocked by the decision – although the Isle of Man has been through a similar debate in the past:

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