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MEA bailout criticised

Thu, 11 Aug 2011

The recent £14.5m bailout of the MEA has sparked anger from the Liberal Vannin Party.

The government came up with the package to allow electricity prices to be frozen for the next two years, after complaints from the private sector over high energy prices.

Half of the money has come from relief from interest charges and the rest from capital advances.

Although it's in place now, it will have to be approved in next year's budget.

Lib Vannin says it's sent shock waves through the party and claims the move, which was recommended by CoMin, is 'blatant electioneering.'

The party says the group has no statutory authority to be able to introduce this measure.

 

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