{"id":3575,"date":"2024-10-10T15:12:19","date_gmt":"2024-10-10T14:12:19","guid":{"rendered":"https:\/\/community.im\/taxpayersalliance\/?p=3575"},"modified":"2024-10-10T16:09:14","modified_gmt":"2024-10-10T15:09:14","slug":"isle-of-man-government-spending-2015-to-now","status":"publish","type":"post","link":"https:\/\/community.im\/taxpayersalliance\/2024\/10\/10\/isle-of-man-government-spending-2015-to-now\/","title":{"rendered":"IOM Government spending has increased over the last decade"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Isle of Man Government spending is now at its highest level, outside of the years disrupted by the COVID-19 pandemic.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Nominal terms<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">In nominal terms, Isle of Man Government expenditure has risen <em>every<\/em> year since 2015-16 (except for the 2022-23 financial year, as the extraordinary spending during the Covid period expired).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2015-16, the Isle of Man Government spent approximately \u00a3933 million, which increased to \u00a31,270 million in the 2023-24 financial year &#8211; an increase of 36% over this period.<\/p>\n\n\n\n<iframe loading=\"lazy\" width=\"650\" height=\"391\" seamless frameborder=\"0\" src=\"https:\/\/docs.google.com\/spreadsheets\/d\/e\/2PACX-1vTEhkfloT5_iI24GOPsdrXFtS1wXCYHpyHcGOCe8x1QEmU23BeIIWsCJAyyEFul4pGa_WFInw5HhsPJ\/pubchart?oid=34109029&amp;format=interactive\"><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\">The blue column represents government &#8220;income&#8221; and the red column represents government expenditure. The Isle of Man Government &#8220;income&#8221; column includes transfers from savings and reserves. No house hold or business could consider money taken from savings as &#8220;income&#8221;, but the Isle of Man Government considers such money to be &#8220;income&#8221;.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Real terms<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">During this time period, there has been significant inflation. Using information from <a href=\"https:\/\/www.bankofengland.co.uk\/monetary-policy\/inflation\/inflation-calculator\">the Bank of England<\/a>, the financial records have been deflated to convert the expenditure into real prices. This allows a fairer comparison, using the consistent value of March 2024 British Pounds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Isle of Man Government figures show that the 2023-24 financial year was the highest-spending year in recent Manx history, save for the three Covid-affected years of 2019-2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Further, this confirms that even after accounting for inflation, government expenditure rose by almost 6% last year.<\/p>\n\n\n\n<iframe loading=\"lazy\" width=\"650\" height=\"391\" seamless frameborder=\"0\" src=\"https:\/\/docs.google.com\/spreadsheets\/d\/e\/2PACX-1vTEhkfloT5_iI24GOPsdrXFtS1wXCYHpyHcGOCe8x1QEmU23BeIIWsCJAyyEFul4pGa_WFInw5HhsPJ\/pubchart?oid=505183430&amp;format=interactive\"><\/iframe>\n\n\n\n<h1 class=\"wp-block-heading\">Sources<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">The source for this analysis was the Isle of Man Government Budget papers, available from the Isle of Man Government. The &#8216;probable&#8217; expenditure numbers were used for each concluded year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Inflation figures were provided by the <a href=\"https:\/\/www.bankofengland.co.uk\/monetary-policy\/inflation\/inflation-calculator\">Bank of England<\/a> inflation calculator.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Access to the underlying spreadsheet and calculations is available on request.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Isle of Man Government spending is now at its highest level, outside of the years disrupted by the COVID-19 pandemic.<\/p>\n","protected":false},"author":1,"featured_media":3577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_newspack_byline_active":false,"_newspack_byline":"","newspack_featured_image_position":"behind","newspack_post_subtitle":"Isle of Man Government Spending, 2015 to now","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":["post-3575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IOM Government spending has increased over the last decade - Manx TaxPayers&#039; Alliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/community.im\/taxpayersalliance\/2024\/10\/10\/isle-of-man-government-spending-2015-to-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IOM Government spending has increased over the last decade - Manx TaxPayers&#039; Alliance\" \/>\n<meta property=\"og:description\" content=\"Isle of Man Government spending is now at its highest level, outside of the years disrupted by the COVID-19 pandemic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/community.im\/taxpayersalliance\/2024\/10\/10\/isle-of-man-government-spending-2015-to-now\/\" \/>\n<meta property=\"og:site_name\" content=\"Manx TaxPayers&#039; Alliance\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/manxtaxpayers\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-10T14:12:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-10T15:09:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/community.im\/taxpayersalliance\/wp-content\/uploads\/sites\/9\/2024\/10\/ouWMIu_HL8uDC3Ancnb4V_f2a0647abd114a7db9b1a657817b39e9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Josem\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@manxtaxpayers\" \/>\n<meta name=\"twitter:site\" content=\"@manxtaxpayers\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Josem\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/\"},\"author\":{\"name\":\"Michael Josem\",\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/#\\\/schema\\\/person\\\/d4f1e9bb553558dce5b10d43562290d1\"},\"headline\":\"IOM Government spending has increased over the last decade\",\"datePublished\":\"2024-10-10T14:12:19+00:00\",\"dateModified\":\"2024-10-10T15:09:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/\"},\"wordCount\":277,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/community.im\\\/taxpayersalliance\\\/wp-content\\\/uploads\\\/sites\\\/9\\\/2024\\\/10\\\/ouWMIu_HL8uDC3Ancnb4V_f2a0647abd114a7db9b1a657817b39e9.jpg?fit=1024%2C768&ssl=1\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/\",\"url\":\"https:\\\/\\\/community.im\\\/taxpayersalliance\\\/2024\\\/10\\\/10\\\/isle-of-man-government-spending-2015-to-now\\\/\",\"name\":\"IOM Government spending has increased over the last decade - Manx TaxPayers&#039; 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