The slower than predicted UK economic recovery looks likely to have an adverse effect on the Isle of Man.
That's the belief of Treasury minister Eddie Teare who was speaking after UK Chancellor George Osborne's Autumn Statement on Wednesday.
Mr Teare says it's clear Mr Osborne has been forced to admit that the UK economy is in 'very choppy waters', which means the Island may not enjoy plain sailing economically in the foreseeable future.
The minister has also warned that the Chancellor's plan to reduce corporation tax in the UK from April 2014 will present increased competition for business, although the impact won't be immediate:
Government consultations need 'more objective and neutral' approach
Applications open for role on planning committee
Survey finds half of businesses expect to make cutbacks or redundancies in 2026
Braddan Commissioners appeals for information after tyres fly-tipped on Marine Drive
Allinson: Government responding to calls over MiCard system