The Treasury Minister has addressed 250 representatives of Manx business at a post-budget breakfast summit at the Palace Hotel.
The sell-out event (18 Feb) saw Mr Teare tell Junior Chamber of Commerce members his rebalancing of spending and income had set the Island on a steady course to operate within its means in future.
That's after almost ?90 million had been taken from reserves over three years to help pay for public services.
The minister said a leaner, more efficient government machine had emerged after painful cutbacks - but confirmed a root-and-branch reform of the Island's welfare system was on the way.
As the budget headlines fade, Island accountancy practices have been examining the small print.
Tax accountant at Douglas-based PwC Kevin Cowley has looked closely at government's assertion reserves are no longer required for day-to-day spending.
He says while government may not plan to dip into external investments in the financial year ahead - the so-called rainy day fund - spending of reserve funds for other purposes continues.
In an assessment of this year's budget Mr Cowley told Marian Kenny government accounts were highly complex:
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