Teare: Job cuts depend on trade union discussions

The expected cutbacks right across the Government board have been confirmed in this year's Budget.

Eddie Teare presented his report in Tynwald this morning as protests continued outside Government Buildings.

 

He confirmed Government had to use £55million of reserves to balance the books but net spending is £35m lower than last year and £121m less than originally planned in 2010.

 

The cap on income tax had risen marginally to £120,000 while mortgage interest relief has been set at 20%.  

 

Speaking to 3FM, Mr Teare admitted that a further leaning out of public services would have to occur over the coming years. However, he added that the number of job losses would be heavily influenced by Government's negotiations with trade unions and their demands (see audio).