That's according to Dr Alex Allinson, who made a statement in Tynwald this week.
It comes following the government confirming a third round of support payments for struggling families this winter.
So far, around £11m has been paid out, with residents now being encouraged to make their homes more energy efficient.
However, speaking in Tynwald, Dr Allinson said we need to create a 'safe and sustainable' Island for future generations:
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 say a significant number of dangerous weapons were 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.
