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Potential impact on reserves 'downright frightening' says former minister

Ashford says pensions issue is of particular concern

Former Treasury Minister David Ashford has criticised the use of reserves in this year's Budget.

He says he has "serious concerns about the legacy that this administration is intending to leave the next".

In the 2023-2024 financial plan £8.5m of investment income, generated by the Manx National Insurance Fund, is being used to assist funding Manx Care's mandate.

You can find out more about the Budget HERE.

Mr Ashford also highlighted an issue with pensions which he says will have an impact:

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