I've just blogged about the Isle of Man renegotiating (again) it's VAT agreement with the UK - for the second time in less than two years.

On 2 November 2010 Manx Radio reported:

'Little credence' should be given to a keen opponent of the offshore financial centres, as he bids to further 'undermine the Isle of Man'.

That's the stance of the Isle of Man's Minister for Economic Development, Allan Bell, after Richard Murphy claimed the Manx government would have to renegotiate its VAT sharing agreement with the United Kingdom for the second time in a year.

Mr Murphy, of the Tax Justice Network, has been give credit for the change which saw the Island's VAT receipts cut by £90 million this year and by £140 million a year thereafter.

However, Mr Bell is dismissing his latest claim that another renegotiation is around the corner.

Will an apology be forthcoming Mr Bell now that I'm proven right, yet again?