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Treasury Minister Allan Bell doesn’t believe stock market turmoil will mean job losses in the Isle of Man.
However, he says the downturn in the world economy will undoubtedly start to bite over the next 12 months.
Yesterday, government statistics showed unemployment holding steady at 1.4 per cent, with 595 people out of work.
Mr Bell (pictured) says trouble in the American banking system probably won’t have an immediate effect:
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It takes effect from 1 January 2025
