2021 budget 'testament to Manx resilience'

The 2021 budget for the Isle of Man is testament to the resilience of the Manx people and the economy during the pandemic.

That's according to Treasury Minister, Alf Cannan MHK, who revealed the plans for the next financial year in Tynwald yesterday which will be the final budget of the current administration.

Among the measures announced on Tuesday, nearly £19million of additional funding is going into public services, a 2.5% rise for the basic and Manx state pensions and tax rates on Island remain unchanged.

Addressing the court yesterday, Mr Cannan added: "Against the economic backdrop of the pandemic, we are fortunate to be able to deliver a budget that only maintains spending on public services without having to increase taxes, but which also provides new, focused investment in health and social care.

"That we are able to do this is testament to the resilience and strength of the Manx economy, our public finances, and the Manx people."

It was also revealed yesterday the Coronavirus pandemic has cost the public purse just over £200million pounds so far.