States £70m. short for massive investment plan
Friday 16th August 2013, 12:00PM BST.
AN INVESTMENT programme costing up to £335m. including new schools at La Mare has been unveiled by Treasury and Resources – but the States is £70m. short of being able to fund it all.
The programme is split into two: £225m.-worth to be paid for from the capital reserve, a pool of money set aside from general States income for building; and £100m. to £110m. of projects which are funded from fees, charges or loans – for example waste plants and social housing.
Treasury’s report, to be debated by the States in September, concentrates on prioritising those in the first of these categories.
This includes the first phase of the bus fleet replacement, coastal defence improvements, new equipment at the hospital and moving community services to the King Edward VII site.