IRIS scheme is within budget claim
When is ?75 million really ?173 million?
The Department of Transport says the two figures are the same based on the estimated cost of the IRIS scheme.
In a statement on Friday, the DoT claims the cost of the project hasn’t doubled – just that its original estimate has been subject to inflation.
In the statement from its PR company, the department says in 1993 the IRIS scheme was estimated to cost between ?75 and ?95 million.
However, it denies this cost has doubled – despite the current estimate being ?173 million.
It puts the extra costs down to work on the Santon to Port Erin railway line and inflation.
The statement concludes: ‘Therefore, allowing for inflation – and taking into account the cost of reconstructing the railway – the estimated total cost of ?173,605,000 is within the budget range predicted in 1993.’
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