Treasury Minister Says Many Positives Have Come From Economic Downturn

With just over 2 weeks to go until the Isle of Man’s most important budget in recent memory Treasury Minister Anne Craine has spoke to 3FM about the lessons learnt over the past 2 years.

She has the task of plugging the deficit brought about by the loss of VAT revenue.

The loss of income this year stands at £142 million.

The loss of VAT revenue has led to Government Departments having to seriously rethinking their strategies in an effort to meet their 15% spending reductions.

Minister Craine has said it’s important to acknowledge the positives instead of just the negatives from the past 2 years.

(AUDIO ABOVE)