Minister promises more good news after Budget is approved

Treasury Minister Eddie Teare says he’s pleased Tynwald has backed this year’s budget – and says he hopes to bring more good news next year.

Yesterday, the court voted to adopt his financial plan for the year, with big gains for carers and means-testing of child benefit.

Overall, government spending will increase by just 0.3 per cent this year - around £1.6 million.

Mr Teare says the government is back on an even keel after years of hardship caused by the loss of vast tranches of VAT cash from the UK.

But he says this year’s budget is only one half of a bigger scheme but is warning the Island has some way to go before it's finances are totally secure: