My, so far, invariably reliable sources on all things Isle of Man have told me that HM Treasury has called in the Isle of Man and they have been told to renegotiate their VAT sharing agreement, again. Only one direction of movement is being considered — and that’s downwards as far as the Isle of Man is concerned.
Rumour has it that the publicity given on this blog to the blatant attempt made by the Isle of Man to manipulate the agreement in its favour by restating its basis for calculating its gross domestic product and gross national income may have been influential in forcing this renegotiation on the Isle of Man, but I couldn’t possibly comment on that.
What I do know — if this is true — is that some serious apologies are due in this direction from the Isle of Man.
But I’m not expecting any to be forthcoming.
What I am pleased about is the fact that the ordinary people of the UK will, I hope, stop subsiding the pernicious abuse promoted by the government of the Isle of Man as a result of such renegotiation. And that has to be good news.
For the whole saga, read here.