Isle of Man TT Races cancelled

THE ISLE of Man’s tourist industry stands to lose £16 million following the cancellation of the TT Races.

The Manx government today cancelled the annual motorcycle festival, scheduled to take place between May 26 and June 8, because of fears large numbers of visitor’s may spread foot and mouth disease.

Around 40,000 people were expected to attend the event, which has never before been cancelled during peacetime in its 94-year history.

The government has created a contingency plan worth £4 million to offset financial losses the cancellation is expected to cause to businesses.