Covid hits public purse as Cannan reveals final budget

Tuesday, 16 February 2021 11:29

Dip in tax income expected, with bounce back in coming years

The treasury minister says public finances won't recover from the impact of Covid-19 for another three years.

Alf Cannan's presented the 'one-year only' pink book to Tynwald members today - the final budget of this administration.

It estimates Covid will have cost more than £200 million and promises investment in health and social care services.

There are no changes to tax, pensions have risen by 2.5 per cent and there's been a small increase in other benefits.

Mr Cannan ended his speech with a list of what he considers are of the highlights of the budget:

Elsewhere there's a focus on changing the way capital projects are funded, finishing major works, and extra money to address climate change.

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