Isle
of Man
Full Name: Isle
of Man
Capital:
Douglas
Population: 75,049
(July 2005 est.)
National Holiday :
Tynwald Day, 5 July
Dependency Status: British
crown dependency
Executive Branch of Government:
chief of state: Lord of Mann Queen ELIZABETH
II (since 6 February 1952), represented by Lieutenant
Governor Ian MACFADYEN (since 26 October 2002)
head of government: Chief Minister Donald GELLING
(since 14 December 2004)
cabinet: Council of Ministers
elections: the monarch is hereditary; lieutenant
governor appointed by the monarch for a five-year
term; the Chief Minister is elected by the Tynwald;
election last held 14 December 2004 (next to be
held December 2010)
election results: Donald GELLING elected chief minister
by the Tynwald; note - Richard CORKILL resigned
2 December 2004
Legal
System: English
law and local statutes
Legislative Branch: bicameral Tynwald consists of
the Legislative Council (an 11-member body composed
of the President of Tynwald, the Lord Bishop of
Sodor and Man, a nonvoting attorney general, and
8 others named by the House of Keys) and the House
of Keys (24 seats; members are elected by popular
vote to serve five-year terms)
elections: House of Keys - last held 22 November
2001 (next to be held November 2006)
Judicial Branch:
Royal Court
History: Part of the Norwegian Kingdom of the Hebrides until
the 13th century when it was ceded to Scotland ,
the isle came under the British crown in 1765. Current
concerns include reviving the almost extinct Manx
Gaelic language.
Economic Overview: Offshore banking, manufacturing, and tourism are
key sectors of the economy. The government's policy
of offering incentives to high-technology companies
and financial institutions to locate on the island
has paid off in expanding employment opportunities
in high-income industries. As a result, agriculture
and fishing, once the mainstays of the economy,
have declined in their shares of GDP. Trade is mostly
with the UK . The Isle of Man enjoys free access
to EU markets .
Currency: GBP (also Manx Pound)
GDP: £1.29 billion (2003 est.)
GDP by Sector:
agriculture: 1%
industry: 13%
services: 86% (2000 est.)
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