Island needs to be on 'firm footings' post-pandemic

Set to record £36 million deficit

The treasury minister says the Isle of Man needs to be on 'firm footings' going into the post-pandemic period.

David Ashford says the 'prudent use' of reserves – and targeted financial support – during the last two years has protected lives, the health of the nation and the economy.

The Island is set to record a deficit of £36 million, on the revenue account, over the next financial year – due to a reduction in government income and Covid-19 expenditure.

Mr Ashford says there will be good days and bad days in the next 12 months: