From Isle of Man Today:
DETAILS of the Island's revenue sharing arrangements within the Customs agreement with the UK have never been made public.It is perhaps the secret nature of the deal that has fuelled claims by the Island's most ardent critics, most notably Richard Murphy of the Tax Justice Network, that it effectively provides us with a £230 million subsidy from the UK.
Mr Murphy, jubilant that we are to lose £140 million, nevertheless believes that a subsidy remains.
The Manx authorities vigorously deny that the revenue sharing arrangement ever constituted a subsidy.
Chief Minister Tony Brown said: 'It's never been a subsidy but it has been a very important agreement to the Isle of Man.'
'We've had no payments over and above what's agreed in the sharing mechanism,' Treasury Minister Allan Bell told a press conference 10 days ago.
Whether a subsidy or not, the sharing mechanism has proved a major revenue stream, contributing about £339 million each year ‚Äî that's nearly 60 per cent of the government's annual income of £572 million.