Changes to income tax, nursing care, health and social care funding and child benefit make up part of this year's Budget.
In Tynwald this morning Treasury Minister Alf Cannan delivered his first budget speech - the plan will now be debated by Tynwald Members before they vote on it.
The Department of Health and Social Care will receive an additional £11 million to fund health services - child benefit will also rise by two per cent for the first time since 2010.
A 'five year financial plan' has also been set out which Mr Cannan says will help secure a sustainable position:
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