The government’s announced a new ‘pocket tax’ to raise £124 million to buy the Steam Packet Company.

Treasury Minister Alf Cannan says teams of tax inspectors will stop people on the street, turn them upside down and shake them until the money flows.

The idea was first suggested by the Manx Utilities Authority some years ago, but it eventually decided taxing  toilets would be a far better idea.

The new tax won’t apply to Freemasons, Tynwald members, civil servants or high net worth individuals who aready make a huge tax-free contribution to the economy.