David Ashford will present his first Budget as Treasury Minister today (Tuesday).

It is expected to tackle the island’s recovery from the coronavirus pandemic.

Last year, then-Treasury Minister Alfred Cannan delivered what he described as a ’Budget of resilience’ that aimed to provide a platform for economic recovery from Covid.

He told Tynwald his fifth annual Budget was set against the most challenging backdrop in years.

Now the island has opened up following two years of lockdowns and tight border restrictions, how the island is recovering is expected to be a key theme in the Minister’s comments.

Another aspect to watch out for will be the performance of Manx Care in its first year of operation.

Last year, Mr Cannan put aside £18.8m of new revenue spending for public services, with the largest increase allocated to improving health and social care services.

Manx Care took over the delivery of health and social care services from April 1, 2021, and received an additional £15m.

As the new body continues to cement itself in our health and social care settings, its funding for the coming financial year will be a key element in the Treasury’s considerations.

The 2022/23 Budget will tie in closely with the government’s recently approved island plan, which sets out a ’Medium Term Financial Strategy’.

Within the ’Our Island Plan’ document, it states: ’The February 2022 budget will outline the key principles and aims for the medium term financial strategy which will include and require... the development of a strategy to ensure that our fiscal policies and arrangements support the economy and the delivery of the Island Plan.’

We will have full coverage of this year’s Budget in Thursday’s Manx Independent.