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Treasury forecasts 'worst case' covid impact of £190 million

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Cannan asks Tynwald to approve £100 million recovery fund

Public finances have taken a hit of between £120 and £190 million according to Treasury estimates.  

It's one of the forecasts Alf Cannan has provided today (21 July), as he asked Tynwald to approve a new £100 million recovery fund to help the Manx economy bounce back from Covid-19.

It's as government will phase out business and salary support, which it's forecast will have paid out more than £70 million.

The treasury minister says this direct help couldn't continue indefinitely: 

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