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Minister says £8 million will transfer back to Reserves as it becomes available

Eight million pounds from the Media Development Fund will be transferred back to General Reserves "as and when" money recouped from the library of archive films becomes available.

That's according to Treasury Minister Eddie Teare, who was speaking in Tynwald in reply to a question from South Douglas MHK Kate Beecroft. She wanted to know when the money would be returned - but suggested it was something of a pipedream, as she claimed it relied on income from the sale of old films which hadn't even broken even yet

But Mr Teare didn't agree, and suggested that most, if not all of the money would be returned in due course.

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