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Capital Spending by Departments within overall budget 14 May 2007

CAPITAL spending by Government Departments over the last financial year has been well within the overall budgets agreed by Tynwald. This was the message delivered to Tynwald Members by Treasury Minister Allan Bell MHK as he tabled a resolution seeking Tynwald approval to adjustments in the timing of funds being made available to Departments for Capital schemes.

Mr Bell recognised the difficulties facing Departments progressing major schemes that can take several years to bring to fruition when he commented:

“It is often difficult for a Department to forecast precisely the value of payments to be made within a particular financial year on a scheme which overlaps several years. Circumstances vary, sometimes unpredictably, and as such a degree of flexibility has to be built into our accounting systems to allow the movement of funds from one financial year to another. It is reassuring to note however that not withstanding our high level of commitment the adjustments required this year are modest.”

Although the resolution was primarily concerned with adjustment to spending patterns it also drew attention to the need to authorise an additional sum of £27,689 for work in connection with the proposed Bemahague School as well bringing to the attention of Tynwald Members an overspend on the Waste Treatment Plant at Meary Veg for which the Department of Transport would be seeking the necessary approvals at a later date.

Meanwhile work is progressing on a number of major capital schemes. Some of these are in the early stages of design such as the Runway End Safety Area for the Airport which is presently following the planning process whilst others are at advanced stages of construction such as the new Water Treatment Works in Douglas being developed by the Water Authority. Housing schemes too are progressing well with work on the first phase of the Lezayre Estate in Ramsey nearing completion whilst work is just starting on the next phase of the Janet’s Corner redevelopment in Castletown. The Department of Education is looking forward to the completion of the new teaching block at Ramsey Grammar School, whilst work is also commencing on the new Junior School just across the road.

A financial provision of £103 million has been made for these and many other projects within the Budget for 2007/2008 approved by Tynwald in March.

For more information contact:-
Mr Simon Clague (Chief Accountant),
Tel 686292

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