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Steam Packet buyout is 'right way' says CM

Deal to safeguard 'strategic sea services'

A state-owned Steam Packet would be better for passengers as well as the economy, the Chief Minister believes.

Howard Quayle has advocated a government takeover of the company since he first stood for the House of Keys in 2011.

Tynwald will be asked on Tuesday to approve the use of reserves to purchase the Steam Packet at a cost of £124 million.

Mr Quayle says the deal will safeguard the Island's 'strategic sea services'.

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