Chief Minister Tony Brown says there may be difficult times ahead, following the latest readjustment of VAT revenue, but the Isle of Man has made tremendous progress since he first entered politics.
The Castletown MHK will step down in October, after 35 years as a local commissioner and member of the House of Keys.
The new administration, after next month's general election, will face major challenges as it works to reduce public spending.
But Mr Brown has no doubt the Island has a healthy future:
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