Treasury Minister Eddie Teare said the decision was centred on maintaining confidence in the island's economy.
However, Mr Teare said the move was all about planting seeds and waiting for the harvest.
During the past year Mr Teare has raised the academic qualifications needed for applications for degree funding.
Eddie Teare said there could be more changes ahead following rises in the cost of university education.
Treasury Minister Eddie Teare said the production will become one of four made in the island since last October.
Treasury Minister Eddie Teare said in the long run there will be no extra cost to the organisations affected.
Eddie Teare, the Isle of Man Treasury Minister, said it would "strengthen the close political and business ties between Crown Dependencies".
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Mr Teare said he had lost his trust in the Douglas North politician and could not continue to work with him.
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Mr Teare said it could be argued that students should be encouraged to take up courses which would benefit the island's economy.
Mr Teare said an update to that budget plan was necessary after his office received departmental spending bids for the next financial year.
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In his budget speech, Mr Teare called for a curb to benefits which, in some cases, he said, paid more than the minimum wage.
Eddie Teare MHK said a rebalancing project was "on target and has had a relatively limited impact on services, but we are not out of the woods yet".
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In his budget speech last year, treasury minister Eddie Teare called for a curb to benefits which, in some cases, he said, paid more than the minimum wage.
"While our unemployment rate still compares favourably with other places there is no room for complacency here and supporting job opportunities remains a top priority for this government, " said Mr Teare.
Manx minister of education, Eddie Teare MHK said: This project fits in well with my own view that we should encourage creative activity and also emphasize opportunities available in other areas, rather than the traditional avenues available to local students.
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