The petroleum products tanker Vedrey Tora.  (Picture by Tony Rive, 0693398)

MONEY used to buy two fuel tankers will come from the States’ cash pool, according to Treasury minister Charles Parkinson.

And he said the unusual step of taking money from cash assets to which government has access would not cause any problems.

‘I don’t think it will,’ he said. ‘I’m sure we can absorb what has been spent.’

The States bought the fuel vessels, two of only seven worldwide capable of operating in St Sampson’s Harbour, in an effort to safeguard the island’s supply after their previous owner went into administration.

Policy Council members feared that a potential new owner could remove the boats from servicing Guernsey, leaving the island at risk of running out of some fuels. It therefore decided to buy the boats without the States’ prior approval.

When making the announcement to the media and discussing the funding, Chief Minister Lyndon Trott said that the States had access to ‘a couple of hundred million pounds of cash that is in the system’.