More details to follow
Manx Radio understands the chief minister has commenced a reshuffle of his cabinet.
Alex Allinson has stepped down as treasury minister.
The Ramsey MHK was expected to deliver the budget next month.
In a statement sent to Manx Radio, Alfred Cannan says: "I am redefining this government’s approach to priorities within the remaining term of this administration. There has been increasing divergence in the prioritisation of policy initiatives and I am refreshing my Council of Ministers to meet the delivery objectives necessary for the benefit of the Island.
"This is a time for clarity and purpose. I have determined that a Ministerial reshuffle is necessary. This is now underway and there will be updates made throughout the day."
Sailings cancelled due to predicted gales
Have your say on the future of the Island's plantations
Warning for 'disorderly' parents attending schools
Yellow weather warning for gale force winds
