On Air Early Breakfast Tom Cain | 5:00am - 7:30am

Sefton bailout 'reasonable' but questions remain

A Tynwald committee has concluded there was a 'substantial' risk many jobs would be lost if the Sefton Group had failed, and that government acted reasonably in helping keep the business going.

A £4.5 million support package last April included a loan and purchase of the group's Middlemarch site.

The economic policy scrutiny committee concludes there was no preferential treatment of the Sefton Group.

But it says details of the bailout suggest government stretched its powers to the limit - and beyond.

A recommendation that Treasury should review the impact on traders who did business with the Sefton Group has already been rejected by the Council of Ministers.

South Douglas MHK Kate Beecroft who's tabled many questions on the affair, says that oversight was crucial:

There will be more on this story in Mandate on Monday, from 7.30am.

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