Exchanges over Pinewood

Tynwald buildings, Douglas

Tynwald buildings, Douglas

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There was a further spat between Liberal Vannin MHKs and Treasury Minister Eddie Teare in the House of Keys over the Pinewood deal.

The exchange came as Mr Teare refused to reveal who advised him on the position over insider dealing.

Kate Beecroft (Lib Van, Douglas South) asked under what circumstances the government would be unable to sell its shares in Pinewood.

Mr Teare said there would be two factors - if a no-trading agreement was in place or if Treasury was in receipt of unpublished price-sensitive information. Mrs Beecroft asked whether knowledge of the cost of individual films constituted insider knowledge. Mr Teare said it would not but declined to say who gave that advice. The issue is ‘hypothetical’, he said.

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