According to a report in last Friday's Isle of Man Online news, the jurisdiction's Chief Minister, Richard Corkhill is undecided as to whether an increase in National Insurance contributions for employers and employees, similar to that announced in the United Kingdom, should be implemented on the Island.
Responding to a question in the House of Keys last week on the possible impact of such an increase on Manx businesses and residents, Mr Corkhill said that no decision has yet been made as to whether the Isle of Man should follow suit and impose a 1% increase in NI, which it has been estimated could cost taxpayers around £10 million.
The news service reported that the issue will be discussed over the coming months, although no indication was given as to a possible date for the announcement of a decision.
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