Budget 'unlikely to be finalised far ahead of February'

Treasury Minister says cost pressures make forecasting financial position difficult

Cost pressures on government mean Treasury is unlikely to be able to finalise next year's spending plan far in advance of the budget in February.

Treasury Minister Alex Allinson confirmed in Tynwald this week that next year's budget will include an updated tax strategy.

He'll set out the full financial plan for the year ahead during February's sitting of Tynwald.

Dr Allinson says it's difficult to forecast the figures ahead of time: