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Isle of Man Budget 2024


Maugholdmafia

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1 minute ago, Amadeus said:

And we’re off again. 

 

This is your job Hooper. It's what we elected you for - to make tough decisions and make them work. But I'll give you a tip. Start swinging the axe at the top.

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1 hour ago, cissoltt said:

Lovely work.

So in the top bracket they have added nearly 30 million to the wage bill in a year? 

At least... yes - as this is the lower banding - the figure is likely to be out by about 10% in my estimation.

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Just now, finlo said:

20% to 22% is a 10% increase no?

Agreed. In terms of numbers though it is 2% in addition to the 20% we are already being charged. But that 2% increase is about £30 million which is what their remuneration went up by in the 22/23 financial year. I feel like service has degraded in the last few years, so more money for less...

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Crude comparison from last earnings survey of public (light blue) vs private (orange). The top end (£88k+) is omitted for both, 6.2% of public & 7.8% of private.

https://www.gov.im/media/1379748/isle-of-man-earnings-survey-2022-publish_compressed.pdf

 

image.thumb.png.5d6b3d850079603b367c8e2e414aa6e9.png 

edit: if you squash the public one up so distribution matches private, it works out at about 15% higher than private (although private has the much longer tail)

Edited by Mercenary
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1 hour ago, Spyk3r said:

Agreed. In terms of numbers though it is 2% in addition to the 20% we are already being charged. But that 2% increase is about £30 million which is what their remuneration went up by in the 22/23 financial year. I feel like service has degraded in the last few years, so more money for less...

So it's a reasonable assumption to make about where the money raised by the tax hikes is going.

But wait.....Alex said the hikes were only temporary....

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1 minute ago, Non-Believer said:

So it's a reasonable assumption to make about where the money raised by the tax hikes is going.

But wait.....Alex said the hikes were only temporary....

Well that's bollocks and we all know it.

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