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Money needed to cover government overspends

by isleofman.com 14th May 2009

The Treasury will ask Tynwald next week for permission to release almost ?4.5 million of extra funding on behalf of government departments.

The money will be used to cover excess spending on capital projects in the last financial year.

Of the extra sums spent the most notable are ?1.3 million and ?800,000 respectively by the Department of Local Government and the Environment, and the Department of Transport to buy land.

The DoT also needed an extra ?350,000 in relation to the cottages at White Hoe affected by the IRIS project, a sum which is around ?60,000 more than the Department of Education's overspend on the new Ramsey primary school.

The total of ?4.4 million is ten times more than what was asked for last year but a similar figure to 2007.

In some cases the overspend on the original amount granted is because the scheme is pressing ahead quicker than originally expected, as Treasury Minister Allan Bell has been keen to stress in the past.

Posted by isleofman.com
Thursday 14th, May 2009 07:54pm.

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