UK budget brings little comfort says minister

Fri, 25 Mar 2011

Treasury officials are continuing to go through the finer details of the UK budget but the Minister doesn't think there's anything too disturbing for the Island.

However, Anne Craine says it will also bring us little comfort.

The cut in fuel duty and no rise in air passenger duty looks to have the greatest impact on the Isle of Man.

The Manx Government will be £2m worse off than it had expected over the next year.

Mrs Craine says they'll also be keeping an eye on the review of Northern Ireland's corporation tax.

Although she admits any changes could create competition for the Isle of Man, the minister thinks it may also a positive thing.[Play audio file below]