The ongoing exercise to restructure the Manx government is paying dividends according to the Treasury Minister.
Comparisons between today's Budget statement and last year's are complicated by the loss of the Department of Community, Culture and Leisure and creation of a new Cabinet Office.
The DCCL's former functions have been transferred among four other government departments, taking their budgets with them.
The new Cabinet Office will comprise the Chief Secretary's Office, Information Systems Division (transferred in from Economic Development), Economic Affairs Division (from Treasury) and Human Resources, .
The shake-up aims to produce a slimmed-down, more efficient government structure.
Savings have also been earmarked through streamlining of back-office functions such as estates and fleet management, I.T, payroll, catering, cleaning and public relations.
The centralising and sharing of services aims to avoid duplication and reduce overheads.
Mr Teare told Tynwald these efficiency measures will together save £4.2 million each year from 2014-15: