Former treasury minister says Income Tax change 'difficult to justify'
The former treasury minister says he’s concerned ‘populist politics’ are distracting from the long-term aims of the government.
Despite this Alex Allinson supported this year’s Budget in Tynwald just weeks after being sacked from his post.
Instead it was Douglas Central MHK, and new treasury minister, Chris Thomas delivering the financial plan for the next year.
It's the final Budget of the current administration.
You can find out more HERE.
An increase to the personal tax allowance will see people start paying tax on annual earnings over £17,000 – an increase of £2,250.
Jointly assessed couples will see their limit rise from £29,500 to £34,000.
It’s the largest uplift in recent years but something Dr Allinson, who had planned to increase it by just £750, had concerns about:
Sixteen members of the House of Keys voted for the Budget with eight voting against. Five members of the Legislative Council were in favour of the plan.
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