TREASURY Minister Eddie Teare MHK has this morning delivered his first Budget.
He told Tynwald: ‘There will be many changes ahead, but at each stage the challenge for us, as politicians is to ensure that the changes we propose promote fairness and equity in our community, and ensure that we target our limited resources where they will do the most benefit. This is the theme running through this budget and has been at the forefront of my deliberations.’
He said government has continued to make savings while adopting a new four-year rebalancing plan.
In 2012/13 further savings of £12 million have been achieved to add to the £51 million saved since 2010/11.
Spending is £35 million below last year’s Budget.
{http://www2.iomtoday.co.uk/pdfs/Budget12speechfinal.pdf|Click here to read the speech in full}
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