The Isle of Man's Treasury Minister, Allan Bell revealed this week that the possibility of enacting a 1% increase in national insurance contributions (NICs), similar to that announced in the UK earlier this year is still under consideration.
The Isle of Man Online news service reported on Thursday that, responding to a question tabled by Douglas North representative Bill Henderson, the Treasury Minister announced that his department has been in discussion with the Department of Health and Social Security, but that no final conclusion on the issue has yet been reached:
'It is a little too early to define the possible impacts at this stage. I need to consider the detailed proposals in the context of the DHSS's analysis of how these proposals might affect the Island,' he explained.
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