Scrapping a cap on income tax for the Island's richest people wouldn't raise more money, according to Treasury Minister Alex Allinson.
In the House of Keys this week he was asked when he planned to review the tax cap by East Douglas MHK Joney Faragher.
Dr Allinson said the cap currently stands at £200,000 for individuals and £400,000 for a couple for five or 10 years.
And he said changing that might mean the Island is less competitive when it comes to attracting wealthy people:
High ground could see 4 inches of snow on Saturday night
The Island's Met Office has issued another weather warning for snow and sleet over the weekend.
Mountain Road unlikely to open before Monday
The Department of Infrastructure says the Mountain Road is unlikely to open this weekend.
Yellow warning for freezing temperatures tonight
Ronaldsway Met Office has issued a yellow weather warning about freezing conditions.
School bangers night called off
A charity says it's been forced to cancel a night of school singalongs because of poor ticket sales.
AK47 and Uzi handed in to police
Police have had a significant number of dangerous weapons handed in during their latest firearms amnesty.
"No dispute" over Liverpool Ferry Terminal, says main contractor
The main contractor behind the new ferry terminal in Liverpool says there's no legal dispute over the project.
More weekend bus strikes to come after 10-day walkout?
Bus drivers could walk out each weekend until an agreement is reached with the government.
Minister to face question about bus strike
Tynwald will hear an urgent question about an impending bus strike when it sits next week.
