Treasury minister insists Island is in good fiscal standing
The use of government reserves to bolster the economy through the Covid pandemic, and the current financial crisis, was justified but a strategy is needed to strengthen reserves for the future.
That was the message from the treasury minister who has delivered a financial statement to Tynwald.
Alex Allinson said the Island was still in a strong position, with current reserves standing at £1.67 billion, despite two and a half years of rainy days.
However he says the focus must be on efficiency, fiscal accountability and cost savings.
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