The government is to spend ?193 million on the Depositors Compensation Scheme to repay those who lost cash in Kaupthing Singer and Friedlander.
Treasury Minister Allan Bell told the House of Keys this morning (Tuesday) the cash will be spent from government reserves.
He faced a question on the issue from Michael MHK David Cannan in Keys about whether Treasury would ask for approval to borrow ?200 million.
Mr Bell confirmed Tynwald would be given the chance to vote on the spending at the court’s July sitting.
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