MHK to ask how Treasury will replenish Capital Accounts fund

Friday, 14 June 2013 00:00

Alf Cannan will be seeking to find out how Treasury will replenish the Capital Accounts fund once they’ve reached the end of the rebalancing programme.

The budget plan reveals that if all goes to plan the books will be rebalanced by 2015/16, however it would appear the Capital Account will be depleted to practically zero.

The account provides essential funds for things like improvements to infrastructure and road works.

The Michael MHK gave us an idea how much needs to be in the account on an average year:

(AUDIO ABOVE)

More from Isle of Man News

Superdrug planning Strand Street expansion

A town centre store in Douglas looks set to expand, as it applies for planning permission for a new shopfront.
New warning over palm oil on beaches

The police have issued a warning as more palm oil washed up at Smeale Beach in the north of the Island.
Lumber profits to remain a mys-tree

The Department of Environment, Food and Agriculture can't say how much income is made from exported lumber.
New parking permit system for healthcare staff

Douglas Council says it'll set up a permit system for a car park in Anagh Coar to stop doctors, nurses and paramedics being issued tickets.
School applies to keep TT campsite

A school in Douglas has applied for planning permission to keep hosting campers during TT and Manx Grand Prix.
Can you help find Peel hovercraft?

Do you know where to find a Manx-built hovercraft?
Less than 2% of council's housing is empty

Less than two percent of social housing in Douglas is lying empty, according to the city's Council.
New wholesale company to supply locally-produced meat

A new Island wholesaler says it will supply 100 per cent Manx-produced meat to restaurants, hotels, schools, and caterers.