Treasury Minister Allan Bell has delivered his sixth annual budget speech to Tynwald.

In the first budget of the new administration the Court heard that growth in the economy had averaged 6% over the last five years and government revenues had increased over the same period by ?100 million.

Key points he announced were a 3.1% increase in net departmental revenue spending on public services, and income tax personal allowances being increased by 2.1%.

The standard rate of personal income tax has stayed at 10%, with the higher rate remaining at 18%

Mr Bell (pictured) said he was very pleased with the buoyancy of the Island's economy (audio file attached):

Another issue addressed by Mr Bell was the hotly debated issue of public sector employee pensions (audio file attached):

There was also some help for farmers in the Island, who are facing an uncertain future (audio file attached):