TREASURY was last night writing to States members to explain why questions have been raised about a total of £75m.-worth of public funds.

The move follows growing calls from deputies yesterday for answers about a £50m. discrepancy in T&R figures about the size of the States’ cash pool and fresh disclosures about Guernsey Electricity.

Uncertainty was not helped yesterday when GEL said it needed time to explain a £25m. difference between its figures and those released by the regulator.

A spokesman said the company did not want to give a ‘knee-jerk reaction,’ and would respond next week.

And it has also emerged that the Treasury and Resources Department’s internal audit section has no permanent staff and buys in help.

However, a T&R spokesman said it strongly disputed a Guernsey Press headline yesterday which said Treasury’s ‘missing’ cash pile is now up to £75m.

Its letter is expected to say that it is wrong to associate the Guernsey Electricity reserves with the cash pool debate.

Nevertheless, islanders and deputies were demanding a full explanation yesterday.