Pinewood Studios to double in size

Tynwald buildings, Douglas

Tynwald buildings, Douglas

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News that Pinewood Studios has been given the go-ahead to double in size has been welcomed by the Treasury Minister.

Pinewood Shepperton plc has won its appeal over a £200m expansion plan at its site in Iver Heath, Buckinghamshire.

The announcement by Eric Pickles, UK Secretary of State for Communities and Local Government, came as Treasury Minister Eddie Teare faces further questions in the House of Keys about the Manx government’s investment in Pinewood.

Mr Teare said: ‘It’s positive news reflected in the share price which has gone up by about 10 per cent.

‘Inevitably something as big as this would create an element of uncertainty but the company can now plan ahead and built additional capacity.’

In a Keys question reply, Lib Van leader Kate Beecroft will ask ‘why the investment in Pinewood shares has reduced in value since the beginning of May?’ Mr Teare pointed out the share price was now at an all-time high.

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