Treasury Minister seeks approval for Capital Scheme overspend

Sat, 23 May 2015

Only one capital spend scheme has gone over budget in the last four years.

That's according to Treasury Minister Eddie Teare who says the capital programme has on the whole been managed very well.

It occurred recently when an additional £112,735 was needed on redevelopment works at Janet's Corner, following the discovery of asbestos at the site.

The excess expenditure amounts to around one per cent of the overall cost of the scheme and will be covered by an underspend in other aspects of the project.

Eddie Teare moved to approve the motion for the overspend, and authorised the projects full £2.3 million budget.