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Budget 2016: where the money goes

by isleofman.com 16th February 2016

Per head breakdown of spending

Eddie Teare has outlined his plans for taxation, spending and re balancing public finances, in his budget delivered to Tynwald.

He has closely matched income with expenditure, allowing for a small surplus of £0.3 million in the next financial year (2016-17).

Total income for the year is forecast at £955.6 million, an increase of 1.4% or £14.2 million over the current year.

Gross spending of £955.3 million is forecast in the year ahead, equivalent to £2.6 million per day, spread across all services.

Government says that equates to around £11,750 for every man, woman and child in the Island's population, that's £650 more than last year.

So how is the money spent?

The largest chunk goes on social security payments, such as the state pension, income support and child benefit.

That represents £3,791 per person.

It includes £582 for social care, £192 for children's services and £390 for adult services.

Health services are next, with the government spending the equivalent of £2,387 on each of us, including £231 for free prescriptions and £204 for the treatment of Manx patients in the UK.

Education accounts for £1,175 spending per person, including £125 for university fees.

Public sector pensions for former government staff cost the public purse £945 per person, of which less than half £418, comes from current employee contributions.

That figure has risen from £796 in the last budget - due in part to employees retiring as government reduces its head count.  

Police, fire and prison cost each of us £385 per year.

Environment, food and agriculture spend is £214 per head.

Public transport and heritage railways cost us £162.

Sports and the arts spend is £68 per head.

Sea ports and the airport cost each taxpayer £52 per year.

Drainage and the sewerage system costs £26 per head, lower than last year (£38) due to the implementation of the sewerage charge.

 


 

Posted by isleofman.com
Tuesday 16th, February 2016 11:56pm.

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