GOVERNMENT'S net spending in the next year (2012/2013) will increase by £6.3 million.

Treasury Minister Eddie Teare MHK revealed that spending – which is funded through direct and indirect taxation – will rise by 1.2 per cent to £539.5 million.

The figures were made public as Mr Teare presented the new Budget to Tynwald today (February 20).

Government's gross spending – spending before taking into account income collected by government departments - is estimated at £896.8 million which averages around £2.5 million a day.

The operating balance, which government needs to keep available for contingencies, is £44.9 million or 8.3 per cent of net spending.

In addition the reserve fund is available to meet annual deficits and contains £401 million.

Six of the nine government departments will have smaller budgets this year with only three seeing their budgets increased.

The budget for each department is:

Community, Culture and Leisure - £17,220,000 (1.0 per cent decrease)

Economic Development - £13,851,000 (7.8 per cent decrease)

Education and Children - £95,850,000 (0.2 per cent increase)

Environment, Food and Agriculture – £14,971,000 (1.9 per cent decrease)

Health – £125,009,000 (3.0 per cent increase)

Home Affairs - £30,927,600 (2.2 per cent decrease)

Infrastructure – £33,041,126 (4.9 per cent decrease)

Social Care – £142,947,000 (4.9 per cent increase)

Treasury - £18,237,885 (4.0 per cent decrease)

Total spend : £539,460,550

The Budget also revealed that the number of people employed by government departments, including seasonal staff and statutory boards, is the equivalent of 8,134 full time posts.

Of these the Department of Health will employ 1,627 (20 per cent), the Department of Education will employ 1,573 (19.3 per cent) and the Department of Social Care will employ 951 (11.8 per cent).

Also see: The Budget at a glance 
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