Source link : https://europ.info/2025/07/11/new-isle-of-man-health-levy-could-generate-up-to-28-million/
The Isle of Man government is set to introduce a new health levy aimed at bolstering the island’s healthcare system, with Treasury officials projecting it could raise up to £28 million annually. The proposed measure, announced amid growing concerns over funding pressures, is expected to play a key role in addressing rising costs and ensuring sustainable delivery of medical services for residents. Further details on the levy’s structure and implementation timeline are awaited as public consultation begins.
Isle of Man Treasury Details Health Levy Plans and Expected Revenue Impact
The Isle of Man Treasury has outlined new proposals for a health levy aimed at funding the island’s growing healthcare needs. Under the planned scheme, employees would contribute a fixed percentage of their income, generating an estimated annual revenue of up to £28 million. The levy is expected to support expanded health services, modernization of medical facilities, and increased staffing levels to meet rising demand.
Key details released by Treasury include:
- Contribution Rate: Proposed at 3% of taxable income for employees.
- Exemptions: Low-income earners under £12,000 per annum would be exempt.
- Projected Impact: Treasury models indicate significant funding growth starting in the next fiscal year.
| Income Bracket | Estimated Annual Levy | Impact on Take-home Pay |
|---|---|---|
| £12,000 – £25,000 | £360 – £750 | Moderate |
| £25,001 – £50,000 | £750 – £1,500 | Noticeable |
| Above… |
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Author : Ava Thompson
Publish date : 2025-07-11 17:32:00
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