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Tynwald PAC resolves to consider Media Development Fund losses

​The Public Accounts Committee (PAC) has confirmed that, following a Tynwald resolution of July 17, 2018, the Committee will consider the events that led to losses of more than £26,000,000 incurred by the Media Development Fund, with a view to identifying whether further investigation is needed.

In doing so, Chairman of the Committee and Speaker of the House of Keys, The Hon Juan Watterson SHK, noted that the Committee recognised that such action could give rise to a perceived conflict of interests, given that some PAC Members had served as Ministers at the time some of these decisions had been made.

Mr Speaker explained: ‘The Committee recognises the complexity of past events that caused the losses of over £26,000,000 from the Media Development Fund and the reasons for Tynwald referring the matter to the Public Accounts Committee in order to identify whether further investigation is needed, further to its previous Report.

‘Against this background it is my intention to put a motion to Tynwald in October supporting further investigation on the basis set out in the motion, as amended and approved by Tynwald in July.

Clearly several PAC Members could reasonably be perceived to have been conflicted, having been Council of Ministers’ Members when decisions were made, so I shall propose that Tynwald elect an additional Member to progress the investigation and that for the purpose of the investigation the PAC quorum be reduced to two. Mr Callister and Mrs Poole-Wilson, who are members of the Committee and not conflicted, will remain on the inquiry.’

The Committee is firmly of the opinion that it has a duty to the taxpayers of the Isle of Man to investigate as directed by Tynwald and to report back on what further investigations may be needed and whether there are any changes to governance procedures required as a result of this situation.

For further information contact:
Jonathan King
Deputy Clerk of Tynwald
Legislative Buildings
Tel: 01624 686303
July 26, 2018
Published - 26/07/2018