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Treasury minister reacts to UK Budget announcements

'Nothing extra' in it for the Isle of Man

There's nothing extra for the Isle of Man in the UK Budget, and some of the announcements could put extra pressure on us.

The initial reaction to George Osbourne's latest budget speech from Treasury Minister Eddie Teare.

He says there had been talk of a rise in fuel duty, which earns an extra £500,000 for Treasury coffers for every penny increase, but that has not been the case.

Mr Teare says a couple of the tax cuts will also increase competition for business:

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