Treasury minister recalls loans scandal aftermath
The politician charged with trying to clear up the MEA scandal says the authority is in a much healthier state now than it was a decade ago.
Ahead of his final Tynwald Day as an MHK, Ayre member Eddie Teare has been reflecting on his 12 years in the Keys.
He was appointed chairman of the Manx Electricity Authority – now the Manx Utilities Authority – shortly after it emerged it had borrowed £120 million without government knowledge or permission.
Mr Teare says the scale of the unauthorised borrowings was tough to deal with.
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