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:
Peel sewage works hits milestone
A major milestone has been reached in Peel as a new sewage system gets up and running.
MHK to query gas buying for power generation
How much gas has the Island bought for winter power?
Yoga studio applies for sign permission
A yoga studio in Douglas has applied for retrospective planning permission for signs outside the building.
Yacht club worries over lifeboat retirement
A yacht club based in the south of the Island says it has reservations about Port St Mary losing one of its lifeboats.
One nuisance cyclist ticketed in more than three years
Douglas Council says it's had 13 complaints about cyclists in almost four years.
New ministerial post created by chief minister
The Isle of Man has a new ministerial job - and a minister to go with it.
Huge floating book fair to arrive in Douglas next month
The world's largest floating bookshop will be in Douglas for almost a fortnight next month.
Stay safe for Hop Tu Naa tonight
Police are asking trick or treaters to make sure they can be seen tonight.
