The Treasury has today noted the contents of the UK Autumn Statement delivered by Chancellor Rachel Reeves MP while looking ahead to the Isle of Man Government’s annual Budget to be announced in February 2026.
Treasury Minister Dr Alex Allinson MHK said:
‘The Treasury is in the process of reviewing the measures announced today in Westminster and assessing how they may affect the Island. While planning for our own Budget next year has been ongoing for some time, it is important that today’s announcements and any potential impact are properly considered before finalising the details.’
In accordance with the Autumn Statement, the Isle of Man will increase duty rates for tobacco products by Retail Price Index (RPI, UK) plus 2%, from 6pm this evening (26 November 2025).
All alcohol duty rates will increase from 1 February 2026 in line with the UK RPI.
In accordance with the Customs and Excise Agreement with the UK, the Isle of Man will continue to apply the cut in fuel duty by 5p per litre until September 2026.
