Budget could benefit Island in long term

Treasury Minister's reaction to UK Budget

George Osborne's UK Budget was "very imaginative" and could be good for the Island in the long term.

That's the belief of Treasury Minister Eddie Teare.

The biggest shock annoucement was the introduction of a "National living wage" to be phased in from next April, reaching £9 an hour by 2020.

Mr Teare says Mr Osborne's belief that people should be better off in work echoes one of the themes of the Manx government's review of the benefit system.

Whilst the Island hasn't yet defined what is seen as a living wage, Mr Teare says he believes Mr Osborne has boxed clever