The chief minister says the Isle of Man will need time to absorb the impact of the massive reduction in VAT income, announced by the United Kingdom in October.
As departments and agencies of the Manx Government face the prospect of making up a ?50 million shortfall in the coming financial year, and twice that figure thereafter, Tony Brown says a strategy has been drawn up based on short, medium and long term objectives.
The first series of measures designed to secure the Island's future will be revealed in next month's budget, and Mr Brown says a wide range of options will be considered to raise income (play audio file):
You can hear more of that interview on today's Mandate, from 7.30am, and the first Agenda of 2010, from just after 6pm.
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
