And the chairman of the Isle of Man Office of Fair Trading says he is keen for his officers to talk to their counterparts in the UK over an inquiry being carried out here.

The UK's Office of Fair Trading is conducting a market survey into Isle of Wight ferry fares and competition to decide whether the issue should be referred to the Competition Commission and a full investigation carried out.

In February it was announced that the Isle of Man's OFT is to launch an investigation into Steam Packet fares and profits, including the fuel surcharge which is currently being renegotiated.

Among the operators being investigated in the study announced last week is Wightlink which is owned by Macquarie, the Australian investment bank that also owns the Steam Packet.

Isle of Wight MP Andrew Turner, whose campaign has been supported by more than 8,000 individuals and organisations, said that the decision to launch a market study into Isle of Wight ferry services was 'absolutely the right decision for the Island'.

He said: 'I am particularly concerned that, as the ferry companies have changed hands for ever-increasing sums of money, the levels of debt have grown very substantially. The money to repay that debt can come only from ferry users, most particularly Islanders, who rely on it all year round.

'If there is evidence from the experience of the Isle of Man that would help the OFT decide that a full investigation is appropriate I would be very glad to hear of it.'

Manx OFT chairman Bill Henderson said he had already asked his officers to contact the UK OFT with regard to the Steam Packet investigation and they may contact the Isle of Wight MP as well.

He said: 'We are keen to talk to them and it's obviously good news that they are willing to talk to us.'

The OFT inquiry into cross-Solent ferry services will look at competition between operators and the price of fares, as well as the quality of service. If it finds there is not enough competition, it could recommend opening up access to landing facilities to other firms and reviewing prices.

The OFT says aspects to this study could inform its approach to other markets, notably other ports and ferries markets.

A deadline of March 27 has been set to put evidence before the OFT on whether the market is working well, what prospects there are for new ferry services and the importance of the services to Island residents and the economy.

Mr Turner said: 'We must make the most of this opportunity. I recognise this has been a long time coming.'

Macquarie acquired the Steam Packet in October 2005 for £230 million, just four months after it purchased Wightlink for the same price.

Informal representations may be made on Mr Turner's website www.IslandMP.org or a formal submission can be made to the OFT at isleofwightferries@oft.gov.uk


Full story can be viewed on:- http://www.iomtoday.co.im/news/Isles-of-Man-and-Wight.5052247.jp