Latest News Headlines
On-Air Now
Listen Live

More public sector staff cuts on the way

Tue, 15 Feb 2011

The Manx government is on its way to rebalancing its books according to the Treasury Minister.

Anne Craine has delivered her budget speech in Tynwald today.

The budget is the second part of a five year plan to get back on track after the massive drop in the amount of money the Island earns from VAT.

Mrs Craine says the government is ahead of schedule in rebalancing it's finances but a lot more has to be done.

There'll be more public sector staff cuts over the next year - 285 posts will go.

More welcome news is that income tax rates will stay the same and spending on health is to increase by 7.5 million.

However, the government plans to make an extra half a million pounds a year by reducing the cap on mortgage and loan interest relief to £7,500 per person.

Politicians have spent the day debating the budget.


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