The Treasury Minister has confirmed that between £50 and £60 million is needed per year for capital spending.
Eddie Teare was responding to a question in Tynwald yesterday from Michael MHK Alf Cannan.
He wanted to know how government plans to replenish the capital account after 2015 – saying more clarification is needed.
Mr Teare says it will depend on what is needed in terms of spending but a higher revenue transfer would start when the Treasury could afford it – in three years time.
He says we are facing challenges ahead:
(PLAY AUDIO ABOVE)
Minute's silence for Summerland later
Lifeboat launched to help RIB crew
Four countryside fires in just 24 hours, say fire crews
MHK wants to know about green power generation mix
No figures for backdated pay rise yet, says Manx Care
Peel Carnival gets underway today
Commissioners apologise over Freedom of Information error
Almost 1,000 passengers visiting on cruise ship
Comments
Add a comment