Set to record £36 million deficit
The treasury minister says the Isle of Man needs to be on 'firm footings' going into the post-pandemic period.
David Ashford says the 'prudent use' of reserves – and targeted financial support – during the last two years has protected lives, the health of the nation and the economy.
The Island is set to record a deficit of £36 million, on the revenue account, over the next financial year – due to a reduction in government income and Covid-19 expenditure.
Mr Ashford says there will be good days and bad days in the next 12 months:
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