Latest News Headlines
On-Air Now
Listen Live
Facebook

TT costs government over £1m to stage

Tue, 10 Jul 2012


The Economic Development Minister has been asked to explain why one of his officers said that government loses over £1m putting on the TT races.

John Shimmin was asked in Tynwald today what are the economic benefits of the TT races.

Mr Shimmin estimated that the total visitor spend on the Island for the 2012 event was over £23m.

Ramsey MHK Leonard Singer then asked Mr Shimmin to clarify the contents of an email written by the government's Head of Motorsport who said that "taking everything into account, including the tax take from visitor expenditure, government loses over a million pounds putting the races on."

However, John Shimmin says it's an investment which brings in a lot of money.[play media file below]

 


Media

  • Minister John Shimmin

 

Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed