Cannan delivers Manx Budget

Summary of Alfred Cannan's speech

Treasury Minister Alfred Cannan has lifted the level of personal allowance again, in a Manx Budget which he desribes as, 'one of substance for an island of substance'.

That rise is among the headline initiatives.

The personal income tax allowance goes up £750 to £13,250.

This, says the government, will take 1,700 people out of the tax net.

Mr Cannan says taxpayers will be up to £150 better off, or up to £300 better off for a married couple.

Child Benefit rises by 3.3%, or just under the level of inflation.

Health and Social Care are given an additional £5.5 million.

There is a substantial five-year capital investment programme of just under £430 million.

That includes a replacement Castle Rushen High School, an extension to QEII’s Science and Technology block and a national glens and footpaths improvement programme.

There will be a continuation of the £50 million Enterprise Development Fund and a £4.2 million business support package to aid economic growth.

There's to be a further 10% increase in the rate of the nursing care contribution.

Also, the introduction of new pension freedoms.

There will be a continuation of the 1% cap on the budget for government staff pay awards for 2018/19, rising to 2% from 2019/20 allocated on the basis of need.

The basic state pension to rise by 3%.

To encourage healthy living and to get people to use their cars less, the benefit in kind incentive to encourage cycling to work to be extended to include electric bikes.