On Air Manx Radio Update Andy Wint | 5:30pm - 6:00pm

No immediate plans to increase taxes

Treasury Minister says other options to increase revenue will be explored

A plan for the Island's long term taxation policy will be presented to Tynwald by the end of the year, according to the Treasury Minister.

Dr Alex Allinson has told Manx Radio there are no plans to increase taxes at the moment, but they will be looking at other ways to increase revenue.

Government is projecting that it will be drawing down £150 million from reserves this year in an attempt to help grow the economy.

Dr Allinson says there are lots of things to consider:

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