Policy and Reform Minister reacts to Household Income and Expenditure Survey
The spending habits of people in the Isle of Man have seen quite a shift over the last 40 years or so, as described by the policy and reform minister:
Chris Thomas has been speaking following the recent release of the latest Household Income and Expenditure Survey.
The survey is carried out every few years, to help determine the basket of goods used to measure inflation.
It also plays a major role in calculating the Isle of Man's indirect tax share under the VAT-sharing arrangement with the UK.