BUDGET: £16K+ to be spent per head of population

Highest proportion of spending to go on benefits

More than £16,000 is expected to be spent per head of the Isle of Man’s population in 2024-2025.

That figure has been revealed as part of this year’s Budget which has been unveiled today (20 February).

The total projected gross spending is £16,343 per person based on an assumed population of 84,530.

This breaks down as follows:

• £4,863 for social security payments

This will include the State Pension, Income Support and Child Benefit and allocation of National Insurance funds towards the NHS.

• £4,311 for health and social care services

Of this £1,800 relates to Noble’s Hospital, £850 is for primary care, £812 for social care services, £249 for providing free or subsidised prescriptions or drugs and £312 for treating Manx patients in the UK.

• £1,086 for education, sport and culture

This will include £118 for university fees, £103 for sports, recreation and youth services – including subsidising regional swimming pools - and £47 for culture including the Villa Gaiety.

• £523 for the emergency services

This will include money for the police and fire services, prison and other parts of the Department of Home Affairs.

• £282 for the environment

This money will support the Department of Environment, Food and Agriculture including the Office of Fair Trading and the Road Transport Licensing Committee.

• £116 net expenditure (after income) for transport

This will go towards public transport and heritage railways.

Tynwald will vote on the Budget later today.

Find out more about this year's Budget and how it will affect you by clicking HERE.