Sector must forge new markets - PwC
This year's Manx budget has set a path of economic growth and firm cost control within government as the way to fix the Island's public finances.
A medium term financial strategy until 2021 contained within Eddie Teare's statement (16 Feb) forecasts the revenue Treasury will need to balance the books without the use of reserves - but is short on detail as to how we will get there.
Forecasts show tax revenue increasing by 3% per annum for six years based on predicted economic growth, while savings of £2 million in the next financial year are projected.
At 0.2% of gross expenditure, the savings target has been described by the Isle of Man Chamber of Commerce as 'not particularly challenging'.
On the growth side, the target seen as realistic by government, is viewed as somewhat optimistic by political and business critics.
Tax director at Price Waterhouse Coopers Andrew Cardwell gave Marian Kenny his assessment, now the dust has settled:
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