Kate Beecroft MHK and the Media Development Fund

Perspective

Sunday, 6 October 2019 - 1 hour 24 minutes

Some years ago, big promises were made when it came to the film industry.

The old adage of 'speculate to accumulate' was banded around by some supporters of heavy investment in media here.

Critics argued the proposals lacked some depth.

To quote an MHK who would go on to become Treasury Minister, "I am pleading with you to cast off that starry-eyed spell that has been waved over you and start appreciating facts: there is no proper due diligence; there is no business plan."

It would appear that Mr Cannan was right.

The Media Development Fund is thought to have incurred losses of between 26 and 27 million pounds.

And in July last year, the leader of Liberal Vannin argued there should be a full-scale inquiry into those losses, spearheaded by a Tynwald committee.

If we fast-forward to September 2019, Kate Beecroft was summoned to give evidence to the very committee she had, essentially, laid the foundations for.

Tynwald's Public Accounts Committee was tasked with identifying whether further investigation is needed, and whether there are any changes to governance procedures required as a result of this situation.

Kate Beecroft MHK and the Media Development Fund

Perspective

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