Languages
Page last updated at 09:27 GMT, Saturday, 27 June 2009 10:27 UK

Politicians reject borrowing plan

Politicians in Guernsey have rejected a plan to borrow money from external sources to pay for capital projects.

The Treasury and Resources Department had advocated borrowing £175m.

After three days of debate, deputies agreed to use the States' own funds and agreed which projects should be the highest priority.

Priority schemes include new mental health facilities, the airport runway, the redevelopment of Les Beaucamps School and dealing with island waste.

Treasury and Resources advocated taking on loans, saying it was the best option and that there had never been a better time to borrow.

However, the proposals faced strong opposition from a group of five States members led by Deputy Matt Fallaize, who argued the States should use the money from its own cash pool.

Deputy Mark Dorey, who seconded the amendment, said the interest payments associated with the proposals would place too great a burden on the taxpayer.

New IT systems will also be a priority project.



Print Sponsor


SEE ALSO
Funding report 'was misleading'
19 May 09 |  Guernsey
Capital projects debate delayed
19 Feb 09 |  Guernsey

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific