The Treasury Minister Explains
The 2019 Manx Budget
a presentation
by
Hon Alf Cannan MHK
7:30 pm Monday 25th February 2019
Manx Legion Club, Market Hill, Douglas
Each year the Budget Statement is expected with great anticipation. There is much to think about and Positive Action Group (PAG) is pleased to welcome Treasury Minister, Hon Alf Cannan MHK, to share and discuss his thoughts at a public meeting. He will present his 2019 Budget Statement to Tynwald on 19th February. Less than a week later, as has now become almost traditional Positive Action Group is delighted to host the only public meeting where the Minister will expand on his decisions to the broader electorate, and face questions from the floor as to the public's reaction to those announcements.
As in previous years, we expect to be told that the Manx economy is in great shape, but the main themes of Mr Cannan's earlier budgets remain:
- public sector pensions face continuing financing issues with further reform promised in the near future
- our health and social care budgets remain under stress
- government reserves are expected to show decline following the purchase of the Steam Packet operations and a possible weakening in investment values
- and Brexit remains an urgent problem with no definitive answers yet available as to its outcome or impact – nor what measures government proposes or has taken to protect our interests.
Expanding the Manx economy is a prime objective of this Government. The eGaming sector has been a main engine of growth in recent years – but can that continue?
The Minister for Policy and Reform, the Hon Chris Thomas MHK, recently conceded that there are pockets of poverty in our society – will Treasury be able to provide some answers to this problem?
Whilst public sector employees have the benefit of their generous pension schemes, our government – unlike the UK government - has taken no action to require the private sector to do the same for their workers. That is likely to lead to a significant societal issue of "pension haves" and "pensions have nots" in the future – does government intend to address this issue and if so, when?
Can we expect changes in personal allowances or taxation policy to provide some of those answers to these or other issues – or will business be expected to carry the burden - or will the airy assurance of "future growth" be used to provide the financial answer?
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