But treasury minister admits there are problems with government spending
The treasury minister believes the Island is in a better position financially than most other jurisdictions.
Alex Allinson admits there are problems with government's spending.
He told Manx Radio work is currently ongoing to tackle Manx Care's budget issues, with the healthcare provider currently forecasting an operational overspend of £9million.
Dr Allinson says other countries are facing bigger challenges:
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It comes after recent changes to the UK's BSE status have caused 'huge problems' for Manx farmers