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The Treasury has published its Department Plan for 2023/24, highlighting the key themes over the past year and reinforcing the focus on delivering the objectives of Our Island Plan.

The document has been published on the Tynwald website, under Register of Business, prior to being laid before Members at the June sitting.

Updates are provided on a range of activities undertaken by the Department’s six divisions, including details on targets and how measurements are used to inform progress reports.

A key achievement in 2022/23 was the agreement and publication of the Economic Strategy, which now acts as a clear focus for the Department.

While supporting the Island Plan’s priority of a ‘strong and diverse economy’, consultation has taken place on the future of National Insurance and a tax strategy is on course for delivery in December.

In his foreword, Treasury Minister Dr Alex Allinson MHK said: ‘In the 2022 Budget Treasury committed to a series of reviews into how the we plan for and deliver our services to the people of the Isle of Man.

‘These included the ongoing review of the Island’s Economic Strategy, through to delivery of our social security services and how we plan for our finances through budgeting and capital planning.

‘We have consulted on the fairness of the NI system, and the Budget in February 2023 introduced substantial changes to both the capital and revenue processes, and included details of the digitalisation of services and a draft taxation strategy.’