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Isle of Man Budget 2024


Maugholdmafia

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17 minutes ago, genericUserName said:

Predictable comments from the Manx Forums - and notable that many of the most vocal have been posting during working hours. That rather makes me assume that they have no work to do.

Personally I broadly support the changes although I would liked to have seen the thresholds increased for those on the lowest wages. Better off people should pay more.

It is good to see government addressing the reality and taking difficult decisions.

Comparisons with the UK are pointless. UK govts of all flavours borrow money to fund their populist largess. Much of that borrowing funded by money printing which ultimately makes the money worth less and less every year. That should serve as a reminder not to keep your savings in £ (or similar). UK debt is now at almost 100% of GDP.

Totally unfair attack on people there. Budget day always attracts a lot of interest and comments, it's an important day of the year - this budget particularly, given such a tax increase - especially with no effort by government to reduce government costs.

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24 minutes ago, Derek Flint said:

The teller will how many stand again.

But no, they will be returned if they do. The Manx public suck it up like a sponge.

You do talk the most dreadful rubbish.

Of the 23 MHKs at the end of the last Keys (Skelly had already become President to avoid the electorate) only Robertshaw, Shimmins and Quayle didn't stand again. But Cregeen, Baker, Peake, Quine, Perkins, Hamer and Boot all stood and failed to be re-elected.  Four of these were sitting Ministers. 7 out of 20 suggests the Manx don't automatically re-elect MHKs whatever, quite the opposite.

Edited by Roger Mexico
Typos
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16 minutes ago, Major Rushen said:

Manx Care didn’t care! It’s just spend spend spend. No care for budget, co care for priorities on spend.

Surely the issue is duplication of functions (and cost) across management, in the DHSC and Manx Care.   If the DHSC in its entirety was binned, would any patient/client notice the difference?   Manx Care would effectively be the old DHSS or DHSC, without a costly shadow management looking over their shoulder.

Does anyone know what the DHSC (excluding the Manx Care element) actually costs?   And do they provide value for their salaries?

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Not heard what the usual business and other commentators have had to say so far on this budget (there's usually an invited Manx Radio audience on budget day to discuss the impact, good or bad). Can't see any podcast link at moment or am I missing something obvious?

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7 minutes ago, Albert Tatlock said:

Totally unfair attack on people there. Budget day always attracts a lot of interest and comments, it's an important day of the year - this budget particularly, given such a tax increase - especially with no effort by government to reduce government costs.

It was a perfectly fair observation. Diligent working people do not have time to be posting during the day. Most working people who care will only now and over the next few days be finding their way through the detail of the these changes.

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1 minute ago, Albert Tatlock said:

Not heard what the usual business and other commentators have had to say so far on this budget (there's usually an invited Manx Radio audience on budget day to discuss the impact, good or bad). Can't see any podcast link at moment or am I missing something obvious?

They are taking a bit longer to digest the budget this year and not just reacting to headlines on the day.

https://www.gov.im/media/1382351/pink-book-2024-25-final-website_compressed.pdf

 

 

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1 minute ago, genericUserName said:

It was a perfectly fair observation. Diligent working people do not have time to be posting during the day. Most working people who care will only now and over the next few days be finding their way through the detail of the these changes.

We have lunch breaks and phones now. Plus some of us diligent working people are on holiday.

Where do you work? Foxdale treacle mines?

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2 minutes ago, genericUserName said:

It was a perfectly fair observation. Diligent working people do not have time to be posting during the day. Most working people who care will only now and over the next few days be finding their way through the detail of the these changes.

An awful lot of people on the Island work in various sectors relating to finance.  Knowing what is in the Budget will be part of their job and they may take some time out to comment on it even.

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8 minutes ago, Albert Tatlock said:

Not heard what the usual business and other commentators have had to say so far on this budget (there's usually an invited Manx Radio audience on budget day to discuss the impact, good or bad). Can't see any podcast link at moment or am I missing something obvious?

don't worry Gawnie will be out planting spuds tomorrow to demonstrate what it all means

last year -

 

Edited by english zloty
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33 minutes ago, Major Rushen said:

Manx Care didn’t care! It’s just spend spend spend. No care for budget, co care for priorities on spend.

This is grossly unfair. If you looked at Manx Care Board meetings you would realise they are constantly looking at cost savings. They have more control over their spending than most government departments appear to have.

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1 hour ago, Cambon said:

That is actually incorrect. You can only access the lower tax rate if you have been given a tax code. Your tax code can only be used against one job or pension. Any additional jobs or income are taxed at standard rate, now 22%. You are then able to claim any overpayment back in your tax return. 
 

If you do not have a tax code but have income where manx income tax applies, you are taxed at the standard rate, now 22%. 

  1. The lower rate (or standard band) applies to everyone and not just those with jobs.
  2. You can split your code between jobs or pensions.
  3. Subsidiary employment is charged at the standard band or the higher rate depending on your circumstances the high rate doesn't automatically apply.
  4. Your code is simply a method of collecting your tax. You can ask for it to be adjusted if you want things done differently. 
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20 minutes ago, english zloty said:

don't worry Gawnie will be out planting spuds tomorrow to demonstrate what it all means

last year -

 

I thought you were joking till you added the video.  Even by the the standard of Things Involving Phil Gawne that's embarrassing.

It's almost a masterclass in how not to use visual aids.

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