Treasury Minister Chris Thomas says more work would be done to calculate how much raising income tax allowances would cost the government.
This week in the House of Keys he faced questions from Arbory, Castletown and Malew MHK Jason Moorhouse about the cost of letting people keep more of their earnings.
Mr Thomas said raising the income tax threshold by £250 would cost around £2.5 million.
But he added that figure could change depending on circumstances:
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