BUDGET 2025: Revenue spending budgeted at £1.46 billion

Government planning to spend £17,249 for each person

Government is planning to spend £17,249 for every person on the Isle of Man over the next 12 months.

Treasury Minister Alex Allinson has outlined the financial plan for the next year in Tynwald today (18 February).

Revenue spending for 2025/26 is budgeted at £1.46 billion.

All government departments will receive uplifts of two percent for pay and one percent for non-pay. 

An extra £25 million has been allocated for the Department of Health and Social Care to fund improvements to the NHS – in particular for access to GPs and community dentists.

The Department of Education, Sport and Culture will get an £8.33 million boost which includes £3 million to deliver the aims of the Childcare Strategy.

£800,000 has been allocated for a full roof replacement at St Ninian’s High School which will include solar panels to increase energy efficiency.

Ballasalla Primary School also looks set to get £300,000 to buy and install a new double mobile classroom.

The Transformation Fund will get £5.3 million which is aimed at achieving greater efficiency across government. 

A Contingency Fund - which provides money for 'unanticipated and unforeseen' costs incurred by departments - will be topped up with £5.5 million. 

This transfer has been reduced from previous years to reflect the fact departments should be returning to a ‘more predictable’ level of spending following several years of extreme unforeseen volatility.

Four million pounds will go to the Healthcare Transformation Fund to support ongoing work to implement the recommendations of Sir Jonathan Michael. 

There will be £5 million for the development of major infrastructure projects and an additional £4 million for the agriculture industry. 

The latter will support the Isle of Man Meat Plant and Agri-Environment Scheme.

Treasury has also allocated £6.1 million to maintaining the Island's roads. 

A Housing Deficiency Fund, comprising of £7.5 million from the Department of Infrastructure and an injection of £2 million from reserves, will centralise funding for local authority housing schemes; Treasury says this will provide additional affordable housing.

One million pounds is also being placed in the Housing and Communities Fund to support the work of the Housing and Communities Board. 

There will also £3 million pounds allocated to the Medical Indemnity Fund and £0.75 million transferred to the Legal Costs Reserve. 

You can find out more about Budget 2025 by clicking HERE.