Lowest paid benefit most from 2016-17 Budget

Tuesday, 16 February 2016 00:00

The Budget for 2016-17 being unveiled in Tynwald could see government lose £1.56 million in tax revenue.

If it's approved, thousands are expected to see reduced tax bills - others will be taken out of the tax net altogether.

The Treasury Minister says no-one will lose out:

The 10 per cent Income Tax band would stay, but only applies to the first £8,500 of taxable income.

Eddie Teare explains that balancing the Island's revenue accounts must still be addressed:

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