Treasury Minister 'optimistic' over Covid 'scarring'
Providing support for people affected by the Covid-19 pandemic has cost around £24 million in the last financial year – and another £10 million has been set aside for future recovery.
The Treasury Minister revealed the figure – which is for the year to date – whilst delivering the 2022 Budget today.
The money has gone towards various support schemes for individual and businesses.
The £10 million listed in this year's Budget will go into the Economic Fund to continue to support the fallout from the pandemic.
David Ashford said the Manx economy is 'recovering strongly' and despite the global economic position he's optimistic there will be limited or no long-term 'scarring' to public sector incomes.
He also confirmed economic challenges were not being ignored and Treasury is 'actively engaged' in developing a new economic strategy which should be brought forward in July.
In 2020/21 the pandemic cost the government £109 million.
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