Covid hits public purse as Cannan reveals final budget

Dip in tax income expected, with bounce back in coming years

The treasury minister says public finances won't recover from the impact of Covid-19 for another three years.

Alf Cannan's presented the 'one-year only' pink book to Tynwald members today - the final budget of this administration.

It estimates Covid will have cost more than £200 million and promises investment in health and social care services. 

There are no changes to tax, pensions have risen by 2.5 per cent and there's been a small increase in other benefits.   

Mr Cannan ended his speech with a list of what he considers are of the highlights of the budget:

Elsewhere there's a focus on changing the way capital projects are funded, finishing major works, and extra money to address climate change.