Treasury Minister delivers "budget of resilience"
Tue, 16 Feb 2021
The Treasury Minister has today delivered what he termed a “budget of resilience” that aims to stabilise the economy, protect jobs and invest in vital public services.
Alfred Cannan MHK confirmed Government revenue spending for 2021/22 is budgeted at £1.161 billion, representing £13,740 for every person on the Island – that's an increase of 3.9%.
The Minister estimated that the coronavirus pandemic will cost the public purse more than £200 million this financial year when taking account of lost revenue, increased spending, and drawdowns from reserves.
Setting out spending plans for the year ahead, the Minister highlighted the need for responsible financial management to sit alongside targeted investments into the economy and public services.