Manx government deficit much lower than forecast

Treasury Minister Eddie Teare MHK

Treasury Minister Eddie Teare MHK

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The Manx government has announced a much lower deficit than it had forecast.

At £17 million the net revenue deficit at the year end – the money spent compared with the money collected in taxes and charges – was £14 million lower than estimated.

Income was higher than forecast, boosted by additional income tax receipts of £5 million, while government under-spending brought expenditure in below the estimate.

 

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