Minister unsure how much lying in dormant accounts

Wednesday, 31 October 2018 06:11

By Rob Pritchard @rpritchard9

Treasury Minister Alf Cannan says he doesn't know how much cash is in unused bank accounts, as he prepares new laws to redistribute the money.

In the House of Keys this week he faced questions from Arbory, Castletown and Malew MHK Jason Moorhouse about setting up a scheme that would give money from dormant accounts to charities.

Mr Cannan says new Manx laws will mirror similar legislation already in place in the UK.

But he admitted he didn't know how many dormant accounts there are on the Island - or how much money may be in them.

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