Douglas council says it will invest ratepayers' money in a series of schemes to revitalise the capital.
Rates bills are to go up by 2.1 per cent in the next financial year, mainly as a result of increased waste disposal charges passed on by central government to the local authority.
At its budget meeting yesterday the council set a rate of 395p in the pound.
Leader David Christian says millions have been set aside to fund a new office, library and car park development at Cambrian Place on Lord Street where work is to start soon.
Spending plans for 2013-14 also include improvements to Hutchinson Square, new street lighting, and public housing upgrades.
Councillor Christian says it's a budget for responsible growth in difficult times:
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