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:
Framework of new Sea Services Agreement ready, says minister
The infrastructure minister says the basic framework of the new Sea Services Agreement with the Steam Packet has been agreed.
Attorney General says he's stepping down
The Island's attorney general has announced he'll be retiring later this year.
Road closures in two towns for running event this week
Roads in two towns will close for a running event this week.
Six weekend ferry crossings could face disruption
A series of sailings this weekend could be at risk of cancellation.
President of Tynwald announces retirement
Lawrence Skelly has announced he'll be stepping down as President of Tynwald this year.
Police close Mountain road
The Mountain Road has been closed as police recover a car.
Fuel firm says "fingers crossed" for calmer energy costs
An Island fuel company says it's hoping energy prices stabilise in the future, with its next shipment already planned.
Ring doorbells will need data protection registration - but shouldn't cost you money
The Island's Information Commissioner says you will have to register for data protection for your CCTV doorbell, but it should be free.
