The Department of Social Care will introduce means testing for child benefit.
It will begin in April next year if Tynwald approves the plan later this month.
The change will see child benefit stopped completely for 10 per cent of families with an annual income of over £90,000.
Those with an annual income below £60,000 will continue to receive the benefit.
The move is expected to save £2.5 million per year.
Foodbank looking for volunteers
Could you help those who've been badly hit by the cost of living crisis?
Passport fees rise tomorrow
Today's the last day to get your passport before fees go up tomorrow.
Appeal after car damaged in Laxey
Police are asking witnesses to come forward after a car was damaged in Laxey earlier this week.
Bus Vannin hopes electric bus will score Ohm run
Bus Vannin says a new electric vehicle will be plying routes on the Island over the coming weeks.
Steam Packet warns of tidal disruption
The Steam Packet Company says it's making a number of changes to its timetabled sailings over the next week.
Level 42 to headline TT 2025!
Level 42 will be headlining this year's TT festival.
Air ambulance flights stopped three times by storms
Health and Social Care Minister Claire Christian says the Great North Air Ambulance Service had to abort coming to the Island four times last year because of bad weather.
Reform UK candidate warns of ferries full of Palatine refugees
A Reform UK candidate has predicted the Isle of Man will be overrun by refugees from "Palatine".
