Government departments will have to pay for Treasury loans in the future.
From 2015, a one per cent charge on the borrowing amount will have to be paid.
Treasury Minister Eddie Teare announced the initiative during a sitting of the Economic Policy Review Committee.
He outlined why he's bringing in the policy:
90% of the taxi operators did not want any increase
Isle of Man Unite Taxi Branch welcomes RTLC decision not to increase fares
Charity collecting funds for DEC's Myanmar earthquake appeal
One World Centre volunteers will be in Douglas this weekend
Ministers back most student funding reforms, but budget constraints remain
Government accepts majority of PAC recommendations, but warns affordability must guide implementation timelines
Keep your dogs on a lead to protect livestock, warn police
Officers say even a well-trained dog can instinctively chase sheep
