Capital spending comes in well below budget

Capital spending by government departments hasn’t gone over budget.

£58 million was budgeted for the 2012-2013 financial year however it only reached £41 million.

Next week Treasury Minister Eddie Teare will ask Tynwald to approve adjustments in the timing of funds being made to certain departments for capital schemes.

He says it’s appropriate that departments continually review the need for schemes and this may delay or speed up the start of some new schemes.