Budget 2026: Chris Thomas to deliver Budget speech this morning

It's already known personal allowances will be going up

Treasury Minister Chris Thomas will reveal details of government's Budget for the 2026-27 financial year later this morning.

This year's Budget comes just a month after the Douglas Central MHK took up the role following the dismissal of Alex Allinson.

He told Manx Radio about his approach to the annual spending plan:

It's already known that the Budget will include an increase to the income tax personal allowance, meaning Manx workers will be able to earn more money before they start being taxed.

In January, Tynwald backed calls from Chief Minister Alfred Cannan for Treasury to bring forward a 'substantial increase' to the thresholds for the year ahead.

So just what does go into putting the Budget together?

One man who's familiar with the process is former Ayre MHK Eddie Teare, who served as treasury minister in Allan Bell's administration between 2011 and 2016.

He told Manx Radio's Political Correspondent Phil Gawne balance is key, but there's 'no magic money tree':

Mr Thomas will deliver the Budget speech in Tynwald from 10am. You can follow live coverage on Manx Radio's AM1368 frequency, on DAB, online and on other digital platforms.