Budget Build Up
Today will see the Treasury Minister Alan Bell make his highly anticipated important budget speech to Tynwald.
It’s been a turbulent time for the Island over the past 18 months with the end of VAT sharing arrangement with the UK creating a hole in funds amounting to tens of millions of pounds.
Speculation has been rife as to what the announcement will entail, it’s thought job cuts will be confirmed, there has also been fears of increased taxation to help make up the deficit.
We spoke to the Treasury Minister Alan Bell ahead of today’s announcement; he said the ending of the VAT arrangement has severely knocked the Island’s funds.