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Budget day on Island

The 2015 Budget statement will be delivered in Tynwald this morning, with the key achievement expected to be a balancing of revenue against expenditure. If it happens, it will be the first time that reserves have not had to be drawn upon since the two so-called VAT bombshells.

However, as Treasury Minister, Eddie Teare will point out to members and the nation, the reserves are in a parlous state after they were used to bolster the fiscal position. That is where the new emphasis may move.

Mr Teare will be able to point to a good growth rate. However, there are still uncertainties, one being the final results of the excercise designed to work out for once and for all  how much value added tax the Island should receive.

After his resignation as a Minister yesterday ( Monday) it will be interesting to see if Mr Robertshaw sits on his hands or, if he speaks, if he is supportive of Government. Also absent will be the Chief Minister, who is ill.  

 

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