Treasury Minister reflects on public reaction to Budget

Wed, 25 Feb 2015

Taxing income from land and property has been controversial - but the real Budget benefits to Manx people are 12-months away.

That's according to the Treasury Minister, who says over 10,000 people will be freed from filling in a tax return under the new plans - but realising its benefit won't come overnight.

The 10 per cent band is to be removed in 2016/17, and a uniform rate of 20 per cent taxation will be implemented for anyone earning over £14,000 per annum.

Over a week since the Budget was revealed - we asked Minister Eddie Teare how he feels it has been received: