Budget Day: Treasury says government is on course

Tue, 18 Feb 2014

Government is on course to rebalance its finances by 2015/2016 – but cuts and reforms to government and public services will be needed to achieve it.

The Treasury Minister is presenting this year’s Budget to Tynwald today, with a plan of finding £25 million of real term savings.

Among the measures outlined for the next year is a reduction in net spending of £4.3 million and cutting 153 government posts.

Total spending on benefits will rise by £6 million and there will be a £3.9 million rise in health and social care funding.

Eddie Teare says there's a lot to be done: