Treasury Minister Alfred Cannan has today confirmed his intention to ask Tynwald to approve a Government debt issue of up to £400m to take place this year, subject to market conditions.

The debt issue will have at its heart a £160m refinancing of the Isle of Man Steam Packet Company and a £178m refinancing of current Manx Utilities internal debt to the Treasury.

For the full story, see this week’s Manx Independent, which is on sale now.