Tynwald approval for Cannan's first budget

Unanimous support for maiden statement

The 2017 Manx Budget has been unanimously approved by Tynwald.

Alf Cannan's first fiscal statement as Treasury Minister was passed after a debate lasting four and a half hours. 

His budget set out a five year plan to rebalance the Island's finances, meeting expenditure with income and reducing reliance on reserves by 2020-21.

A decision to raise the personal taxation allowance for Manx residents by £2,000 to £12,500 was well received.

He styled it a boost for hard-working families and individuals, who have had to tighten their belts in recent years. 

Child benefit is to rise by 2% and the state pension by 2.5%.

During the debate, several members raised concerns a static year for departmental spending would mean a cut in real terms - which could see further charges passed on to the public.

Chris Robertshaw said he was dismayed the budget contained no measures to means-test benefit claimants, nor to reform local government.

But Mr Cannan insisted it was a budget of optimism and confidence in the economy. 

Just before winning the day, he summed-up: