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:
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