The Steam Packet Company’s freight price rise is not linked to the Minimum wage rise, the treasury Minister has said.
Rates for freight 2026 have increased by 3.3%, sparking questions over a potential link to the Island’s scheduled minimum wage increase.
In a written Tynwald answer, Chris Thomas said the adjustment is governed by the Sea Services Agreement and is explicitly linked to inflation metrics.
“The 3.3% increase applied for 2026 reflects the August 2025 Manx Consumer Price Index (MCPI) figure and is therefore consistent with the Agreement’s fare-setting mechanism,” he said.
Directly addressing speculation, he added: “I am unaware of any connection between freight charge increases and any minimum wage adjustment.”
The Company has described the rise as part of its move toward a “customer-first” strategy and freight charge harmonisation.
Under the SSA, cumulative price adjustments cannot exceed movements in the MCPI, with the latest increase aligned to this cap.