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Page last updated at 11:43 GMT, Tuesday, 19 May 2009 12:43 UK

Funding report 'was misleading'

Treasury and Resources apologises for funding forecast "error"

Guernsey's Treasury and Resources Department has admitted publishing a "misleading" forecast of the funding available for States projects.

Deputies were told £100m might be available from the States cash pool, when in fact the figure is nearer £70m.

The department said the figure was based on a "loose estimate" and not detailed analysis.

It apologised for the error, and for "inadvertently" misleading deputies who based a funding plan on the figure.

'Reserve' plan

The Capital Spending report covers the funding for repairs to Guernsey's airport runway, rebuilding Les Beaucamp school and new mental heath care facilities.

The States is due to discuss the report before deciding what money should be allocated to which projects.

The Treasury and Resources department has proposed borrowing £175m from external sources.

But five deputies, led by Deputy Matt Faillaize, came up with an alternative proposal to use money from the States own reserves.

But their plan was based on the premise that £100m, rather than £70m, was available.

Deputy Fallaize said a decision on the way forward would be taken later in the week.



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19 Feb 09 |  Guernsey

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