Many UK Budget measures already being addressed here says Treasury Minister

Allinson reacts to Hunt's announcement

Measures announced in the UK Chancellor's Budget package yesterday reflect many elements which are already being addressed on a local level in line with the aims of the Manx Government's Island Plan.

That's the view of Treasury Minister Alex Allinson.

He says his department continues to monitor the local economy and external pressures affecting the Island. 

Measures such as changes to alcohol duty and tobacco products are increased in line with the changes announced in the UK.

The Isle of Man will also apply the five pence cut in fuel duty for a further 12 months.

Reflecting on his UK counterpart’s Budget package Dr Allinson pointed to the approval by Tynwald of a three year Childcare Strategy committed to increasing access and affordability of childcare for all parents.

In respect of helping more people into work he highlighted the Manx Restart scheme, launched in 2020, and the Reskill Scheme to support those who've not worked due to long-term illness for at least a year.

The Treasury Minister also pointed to the recently launched consultation on reforms to the work permits system, and the extended and enhanced National Insurance Holiday Scheme.

Dr Allinson is scheduled to deliver an update on the fiscal position and health of the nation to Tynwald in July.