Treasury Minister Chris Thomas says most people will be £500 a year better off under new tax thresholds.
He was delivering his first budget speech during Tynwald's sitting in Douglas today.
Mr Thomas says tax thresholds for single people will rise to £17,000, and £34,000 for couples.
He said that will boost spending in the local economy:
Gov wants to hear from the Island's younger people
Young people are being invited to take part in a Government survey aimed at improving how it communicates and engages with them.
Braddan Commissioners to make offer on former Bee Gees home
Braddan Commissioners say they're interested in trying to buy a former Bee Gees home.
Major Liverpool docks regeneration plans unveiled
The area surrounding Liverpool's Isle of Man Ferry Terminal could be transformed under major regeneration plans now out for public consultation.
New powers proposed for housing authorities
The Island's housing authorities will get more powers to find living places for people who find themselves in exceptional circumstances.
Kids invited to create Manx-inspired friendship bracelets
Looking for something to keep the kids busy this summer? A friendship bracelet workshop is coming to the Manx Museum.
37 babies born at the Jane last month
A total of 37 babies were born at the Jane Crookall Maternity Unit in June, according to the latest figures.
Court rejects fraudster's freemason conspiracy claims
A man serving UK prison time for fraud and forgery isn't the victim of a shadowy criminal conspiracy involving Freemasons, a court has found.
Government working to refresh economic strategy
Enterprise Minister Tim Johnston says the government's been working hard to make sure it's economic strategy is keeping up with the latest events.
