Treasury Minister Eddie Teare is admitting ratepayers in the Isle of Man could be left with a hefty bill, as a result of the loss of the Island's AAA sovereign credit rating.
International agency Standard and Poor's downgraded the Isle of Man's status from AAA to AA+ in November.
Under a Treasury agreement with the Isle of Man Bank, the downgrade has triggered an increase in the rate of interest for local authority borrowing.
Mr Teare understands the concerns which have been expressed:
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
