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:
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.
Special Olympics fundraiser needs you
A organisation for athletes with learning disabilities has raised more than £17,000 to compete at a global competition in Chile next year.
Peel ready for bonfire and fireworks later
Peel kicks off the Island's bonfire night fun tonight with its fireworks display.
Government: "UK never told us about child murderer"
The government says it'll write to the UK demanding to know how a convicted child murderer ended up living on the Isle of Man.
Farm shop's newest worker needs your name suggestions
A farm shop in Glen Helen is asking you to name its newest member of staff.
Bus Vannin gives update on staffing problems and routes affected today
Bus Vannin has revealed more details about buses which may not run today.
