Additional funds due to economic growth, says treasury minister

£21.3m from income tax will go towards reserves 

The treasury minister says additional funds from income tax is a result of economic growth and changes to the government sector on the Isle of Man. 

Over the last financial year government recorded £21.3 million more from income tax than expected - it's lead to the Manx Taxpayers Alliance calling for the extra money to be returned to tax payers. 

But Alex Allinson says it will go back to the reserves: 

He added for the last decade, government has been spending more money on services than it's been bringing in in revenue but the idea is to balance that out though a medium term financial plan - which will look to build it up.

You can listen to the full interview here: