Ahead of next week’s Budget, and to help illustrate how decisions are made, the Treasury has published guidance provided to Tynwald Members last year. The 2024 Information Pack contains details of personal Income tax, corporate tax, international tax agreements and National Insurance contributions. You can find it here: https://www.gov.im/media/1387425/income-tax-division-information-pack-july-2024_compressed.pdf While referring to data from the 2022-23 financial year, it outlines the implications of changes to the rates of income tax and personal allowances. Importantly, it demonstrates the balance which needs to be achieved through raising enough income to fund public services, while continuing to encourage growth in our economy. The information pack will be useful for anyone interested in gaining a better understanding of fiscal policy decisions and will be updated later this year following February’s Budget. The Treasury Minister, Dr Alex Allinson MHK, will deliver his Budget 2025-26 speech on Tuesday 18 February. Full details will be available online at gov.im/budget as well as across social media.