The Chief Minister says the Manx government is on course to re-balance its budget.
However, Allan Bell admits there is pain to come as the Island continues to tackle the VAT bombshell which saw income cut by a third.
Speaking on Sunday Opinion on Manx Radio, Mr Bell says everyone has to be prepared to accelerate the rate of change in slimming down government.
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Meet the Ministers: Who has the CM chosen to form his CoMin?
As Chris Thomas names his members, we look at who he's chosen and why
What have your MHKs promised you? Onchan
Dr Rachel Glover and Rob Callister were elected
UCM to hold event for prospective students
Its open evening will be held in November
New Council of Ministers announced
Chief Minister Chris Thomas confirms ministerial appointments