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Treasury Minister allays spending concerns

by isleofman.com 16th July 2012

The Treasury Minister is allaying concerns over the amount being spent from government reserves.

Eddie Teare says it was always planned to use a substantial chunk of the money to fund a depositor's compensation scheme and to soften the blow of the UK's VAT renegotiation.

Michael MHK Alf Cannan is worried that the almost ?400 million the government has saved up is being spent too quickly.

Mr Teare says he can understand the concern, but stresses the cash has been budgeted for.




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Posted by isleofman.com
Monday 16th, July 2012 04:02pm.

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