Change of direction over proposed move away from triple-lock
The treasury minister says a decision to pause the introduction of the Manx Pension Guarantee is not a U-turn.
Last month, Alex Allinson announced plans to stop using the triple-lock system for pensions for anyone retiring after 5 April 2019.
You can read more on that HERE.
But in the House of Keys, a number of politicians said he wasn't following proper Tynwald process and call for the public to be more informed.
Dr Allinson plans to propose a 4.1 percent increase to both the basic Retirement Pension and Manx State Pension in next week’s Budget, aligning with the UK’s triple-lock policy, but says he will do what members of the chamber asked:
Meanwhile, he says ten changes have had to be made to the Pink Book:
The Budget will be presented to Tynwald on Tuesday (18 February) from 10am.
You can listen live on Manx Radio's AM 1368.
Listen to the full interview with Treasury Minister Alex Allinson via Newscast below:
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