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Treasury responds to Starmer's 'painful' budget forecast
Manx Newscast
Friday, 30 August 2024 - 17 minutes
The Isle of Man is likely to continue facing difficult decisions for at least the next couple of years, according to the treasury minister.
Earlier this week, UK Prime Minister Sir Keir Starmer warned of a 'painful' autumn budget but pledged not to increase taxes on working people, such as VAT and National Insurance.
However, Dr Alex Allinson notes that due to the Customs and Excise Agreement with the UK, fiscal decisions made in Westminster can still directly impact the Island.
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