Douglas North MHK John Wannenburgh has said he will not support the 2026 Budget, arguing it prioritises short‑term political gain over long‑term financial stability.
Speaking in Tynwald, Wannenburgh said the Budget “could be mistaken for an attempt to buy votes before the next election” and criticised what he described as a continued reliance on reserves.
He said government had become “conditioned” to using reserves to plug gaps, despite stating an intention to reduce that dependence.
Govt Deficit
Wannenburgh, a member of the Economic Policy Review Committee, said the Budget contradicted recommendations in the committee’s recent report, which warned about the scale of reserve use during this administration.
He added that the deficit is set to rise by £15 million, despite strong income tax receipts in 2025.
He also raised concerns about the rapid growth in health spending, warning that annual increases of around 12% could “bankrupt the island” if not controlled.
He questioned whether Manx Care could stay within its new allocation, noting past overspends.
Pension Concerns
Wannenburgh highlighted pressures on the National Insurance Fund, which is no longer in surplus and is projected to be exhausted by the late 2040s.
He said the Budget failed to address the combined challenge of an ageing population and the loss of NI contributions as young people leave the island.
He also pointed to rising pension costs under the triple lock, the absence of financial information for several major public bodies, and what he described as a lack of meaningful action to reverse demographic decline.
While welcoming the rise in the personal allowance and some departmental investments, Wannenburgh said he could not support a Budget that “flies in the face” of the EPRC report he helped produce.
“Integrity is a living,” he said, adding that it would be “disingenuous” to vote in favour.
Mr Wannenburgh’s speech can be listened to below:
