Manx loans company’s 1,700% interest rate

On sale now: The Manx Independent

On sale now: The Manx Independent

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A Manx payday loans company is charging more than 1,700 per cent APR interest.

Today’s Manx Independent reports on the issue and the fact that, because of the rules regarding company ownership, the beneficial owners of the company can remain hidden from view.

Inside the paper, we have a number of political stories after this week’s Tynwald.

We have the latest of Mr Bell’s statement on Freedom of Information as we promised we would here

We also have a full report on David Anderson’s offer to resign if an inquiry found he misled the Keys and Tynwald.

Further inside, the Independent includes a report on the latest situation with the Sefton Group’s debt.

On page 3, we report that the island’s school meals service could be changed as the government cuts down on what it does. We also reveal that automatic pay rises for civil servants could become a thing of the past.

The Chief Minister features on page 4 receiving a rainbow flag from the island’s new gay and lesbian group.

We also have two pages of photos from Tynwald Day and the government garden party.

On the back page, we have the latest drama faced by Lonan’s Mark Cavendish in the Tour de France and we say goodbye and good luck to the Island Games team who are leaving to compete in Bermuda.

Island Life includes information on two days of music in Peel and the Isle of Man’s two-page what’s on guide.

The Manx Independent is in the shops now.

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