Isle of Man Budget 2020: Funding for climate change challenge pledged – BBC News

Funding of £10m has been allocated to tackle climate change on the Isle of Man, the Treasury has said.

Unveiling a “Budget of Focus”, Treasury Minister Alfred Cannan outlined £5m per year to reduce carbon emissions and a £5m fund to protect the environment.

It will support the government’s plan to cut net emissions to zero by 2050.

And while personal tax allowances increase, there will be winners and losers when it comes to changes in National Insurance (NI) payments.

Income tax allowances on the island will rise for a fifth consecutive year, said Mr Cannan.

Personal allowances go up £250 to £14,250, meaning 465 more people will no longer pay any income tax.

About 41,000 people will benefit from a 10% rise in the earnings threshold for NI, saving up to £74 per person.

But a 5% increase in the NI upper earnings limit will see as many as 3,500 people pay up to £202 more.

Combined with the increase in tax allowance, it means that those earning above £42,000 will be up to £78 worse off.

Total government spending for the year is projected to be £1.07bn, up £29m on the previous year, said Mr Cannan.

Mr Cannan said a pledge to spend £541m on capital projects between 2019 and 2024 would “deliver solid infrastructure foundations for the future”.

Nearly £160m was earmarked for schemes during 2020-21, including a sexual assault referral centre, new emergency service vehicles and a TT race timing system, he said.

Other capital investments include:

  • £1.5m for a fibre optic network
  • £6.8m for airport ground surfaces refurbishment
  • £1.4m for runway instrument landing system
  • £1.4m for bus replacement
  • £4.5m for heritage railway renewal

An additional £11m will be spent on government initiatives including the removal of silt from Peel Harbour, the expansion of health care services, and expanding apprenticeships.

Continued funding for the Douglas Promenade Refurbishment and a new ferry passenger terminal in Liverpool was also earmarked during the year, Mr Cannan added.

Source: bbc.co.uk

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