Treasury Minister responds to positive UK Budget

The Minister said: \'Clearly the reduction in fuel duty will be a particular help to motorists facing the current high cost of filling up.\'

TREASURY Minister Anne Craine MHK has responded to today's UK budget, remarking on mixed news for the Isle of Man.

Of the positives Minister Craine said, 'Clearly the reduction in fuel duty will be a particular help to motorists facing the current high cost of filling up'.

She also said the UK's deferral to a planned increase in Air Passenger Duty will save Government coffers £2 million over the next year.

Commenting on the merging of the Tax and National Insurance systems, and the review of Corporate Tax in Northern Ireland the Ramsey MHK said 'we must always be aware that this is a competitive world, and that the UK like the Isle of Man has clearly decided that low corporation taxes do encourage inward investment and job creation'.

She said her Department will now sort through the finer details of the Budget.