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Two Kaupthing bank debates on Tynwald order paper

Important debates relating to the Depositors' Compensation Scheme and the new International Tax Strategy will take place in Tynwald this month.

And Education Minister Anne Craine will seek permission to spend just under £30 million on the new St Ninian's Lower School, planned for Bemahague in Onchan.

Treasury Minister Allan Bell will ask members to approve expenditure of £193 million to depositors with the crashed Kaupthing bank, under the Depositors' Compensation Scheme.

In a resumed debate, Michael MHK David Cannan will call for a committee to investigate the cause of the bank's collapse, and the role of the FSC in ensuring its proper management to protect depositors' funds.

Tynwald will also be asked to support the recently announced tax strategy, which will see the scrapping of the withholding tax, paid by EU residents on earnings on bank accounts held in the Island, in two year's time.

Just under £3 million is required for the refurbishment of what's called the 'airport pavement'; members will be asked to approve the DoT's IRIS Regional Sewage Treatment Strategy; and George Waft, MLC, will try to get the ball rolling on the way to creating a theme park for younger children and their families.








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