Chief Minister says no 'major shocks' in store with Budget

Mon, 18 Feb 2013

The Treasury Minister will unveil his annual Budget in tomorrow's sitting of Tynwald.

This year it has been formulated against a shortfall of £75 million in public finances, with an additional £30 million needed to be drawn from reserves.

It’s anticipated there will be raft of further job losses in the civil service, although so far a lot of these have come from natural wastage; not re-filling posts left vacant by retirement.

Chief Minister Allan Bell says due to government performing well given the tough conditions the Budget has not needed to be as severe as some may expect:

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