Abrogation may not be good idea now, but it shouldn't be permanently dismissed, according to Treasury Minister Allan Bell.

Despite the recent redrawing of the VAT revenue sharing agreement, he says it's still beneficial to the Isle of Man, particularly to the manufacturing sector.

On Talking Heads today Mr Bell also said that in the current economic climate it would be very unwise to destabilise the economy.

However, he believes it's not impossible a time may come when it may be sensible to consider such a move, although he is warning it wouldn't be the magic bullet some people think: