IN PERCENTAGE terms, the massive overspend on the New Jetty renovation project is probably the worst in Guernsey’s history. At nearly six times the original £2.5m. estimate, the overrun and final bill of £14m. ia horrendous.

Probably worse, however, is how it happened but islanders will now have to wait months while its supposed public finances watchdog gets around to inquiring into what went wrong.

Instead, the Scrutiny Committee’s priority is a spot of navel-gazing over vandalism and something that cost every man, woman and child in the island nearly £200 will simply have to wait its turn. It will be interesting, in the post-Fallagate era, to see what remains of the various minutes, internal reports and correspondence relating to this by the time Scrutiny gets around to its promised ‘thorough investigation’.

While civil marine engineering projects are notorious for going wrong, the States’ track record on them is also poor, prompting one engineer here to question whether the original contract had been put together by people who actually knew what they were doing. Whatever the rights or wrongs of that, however, what led to the final cost also requires some scrutiny.

Although the bill to the taxpayer is considerably less than the £27.3m. claimed by contractor Balvac, the true cost of the work done was certified by an independent engineer as being £4.8m. Nevertheless, Balvac’s mediated settlement sum was £9m. and the final cost to the taxpayer is £5m. more than that at £14m.

Where these missing millions went will make fascinating reading in Scrutiny’s report and, while those footing the bill can’t wait to get their hands on it, they’ll have to because, well, lads spray-painting on walls clearly has to take priority.

Islanders will also be interested to see today that Public Services, which oversaw the project, is playing down any concerns that taxpayers are going to have to foot the bill for this.

The explanation is that the Ports Holding Account has money in the kitty – although that is, of course, ultimately put there by islanders.

The point is this project has cost local residents dearly and no one, not even the spending watchdog, really gives a damn.