There will be a public meeting next week at which the Treasury Minister will give a presentation about his Budget.

Alfred Cannan MHK will speak at the Manx Legion Club, Market Hill, Douglas, on Monday from 7.30pm in an event organised by the Positive Action Group.

The meeting is free to attend and Mr Cannan will answer questions from the floor.

PAG spokesman Wilfred Tomlinson said: ’Our Treasury Minister in the previous administration, Eddie Teare, was believed to have kept a steady hand on the budget - encouraging us to think that the government was doing a credible job of managing the economy, but somehow managing to overspend every year - always pinning hopes on the mirage of economic growth to close the gap between expenditure versus income.

’Our current Treasury Minister, Alfred Cannan, faces a formidable task. Most sectors of our economy are stagnant if not in actual decline, prices for both residential and commercial property have fallen significantly, public sector pensions are significantly out of line with the private sector, our population is ageing with consequent inevitable increases in health and benefit costs but total population is also stagnant so tax revenues are not growing to match. Meantime, it is suggested that uncertainty as a result of the UK Brexit referendum may hurt investment.’