The Chief Minister says planning how to spend potential revenue generated from the Isle of Man's territorial sea beds would be premature.
In reply to a House of Keys question from Castletown MHK Richard Ronan, Allan Bell said it wasn't yet known if there'll be any revenue from future exploitation.
Mr Ronan suggested the Island should look to places like Norway to see how their economy is boosted by such fund generation.
But Mr Bell said, while lessons could undoubtedly been learnt from such countries, there were no guarantees for the Island at this stage
Clip 1
Report warns future flooding could lead to £3bn in economic damage
Ramsey Commissioners to stop using AI images on website and social media
Have your say about Isle of Man Post
Wildlife park animals to get extra treats on Christmas Day
