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Report shows Island's value to City of London

The Chief Minister says a long-awaited report into the financial viability of the Isle of Man has revealed the diversity of its economy for the world to see.

The study was commissioned by United Kingdom Chancellor Alistair Darling last year, against a backdrop of economic crisis around the world.

It posed the question: could the Crown Dependencies and Offshore Territories withstand any further sharp shocks in a changed global climate?

The report recognises the Isle of Man's efforts to avoid relying heavily on the finance sector.

And Chief Minister Tony Brown says it also stresses the value of funds streamed into the City of London by the 'offshores':

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