The Department of Economic Development has welcomed the information contained within the 2008/09 National Income Account Report, while noting that in several sectors a reduction in business activity took place. Minister for Economic Development, the Hon. Allan Bell MHK was of the view that generally speaking, the Report was encouraging news for the Isle of Man. He commented: “There were no real shocks in the Report, which in itself is reassuring. I am encouraged by the resilience of our banking sector and by the increases generated by the ongoing growth within the e-gaming industry. However, we also note that for some of our more traditional industries, including manufacturing and tourism, life is more difficult. My Department is focussed on developing an international business centre in which the economy is built around a diversified range of activities. We have made some good progress towards this objective but the Report highlights that there is still much to be done. We must also bear in mind that this Report refers to a period that concluded some eighteen months ago. My concerns are very much to do with the present and the future and as such, it is imperative that the efforts being made throughout Government to grow our economy while seeking to maximise value for money from spending are maintained.” ENDS