The positive view of the Isle of Man in the Foot Report was received 'through gritted teeth' by officials in the United Kingdom Treasury, according to Manx Treasury Minister Allan Bell.
Mr Foot's examination of the Crown Dependencies and Offshore Territories, which was commissioned by the UK government, said they had 'much to be proud of in meeting high international standards'.
Mr Bell was in London for the launch of the report, which he has described as 'very satisfying'.
He says it gives the Isle of Man a glowing reference, to counter some of the arguments which have come from within the UK government over the last few years:
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