Latest News Headlines
On-Air Now
Listen Live
Facebook

Government forecasts £2.86m surplus

Tue, 21 Feb 2017


The Government is forecasting a £2.86m surplus for the 2017-18 financial year.

The Treasury estimates the total income will be £964m over the next 12 months - a 4.8% rise compare with the 2016-17 period.

Gross spending will be up by £17m, or 1.65%, with Government services costing around £2.8m per day.

£3m will be put aside as a contingency fund should unexpected costs arise.

Customs and excise will provide 35% of the Island's income, while income tax and other taxes make up over 20%.

Treasury Minister Alfred Cannan has been setting out his budget in Tynwald this morning.

Bookmark and Share

 

 

Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed