A full assessment will leave no stone unturned as the Island comes to terms with the loss of over ?100 million of income over the next two years.
Chief Minister Tony Brown re-iterated the position as the revised VAT sharing agreement dominated question time in the House of Keys.
Three committees involving politicians, members of the business community and other key individuals from a number of sectors, were set up charged with assessing the way forward.
Mr Brown says a wide-range of expertise is needed to steer the Island through.
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