No specific study of the cost of bank holidays has been undertaken for the Manx economy, the Treasury Minister has confirmed.

Alfred Cannan was asked by Clare Barber (Douglas East) what economic impact assessment he carried out in order to judge the merit of a four day bank holiday weekend?

Mr Cannan said: ’There is of course a cost to any economy for each bank holiday through businesses either losing productivity or having to incur additional costs for staff.

’However this loss is offset by a corresponding boost through increased in consumer spending with people enjoying the day off.’