The Manx government spent £17million less than it expected on capital projects during the last financial year.
The figure was released today by the government.
At the May sitting of Tynwald, Treasury Minister Eddie Teare MHK will table a resolution seeking approval for adjustments in the timing of funds being made available to government departments for capital schemes.
A similar resolution is submitted to the May sitting of Tynwald each year by Treasury on behalf of the departments included in the resolution.
Capital spending by government departments for 2012-13 was £41 million compared with budgetary provision of £58 million.
In addition, the Isle of Man Water and Sewerage Authority and Manx Electricity Authority spent £18 million on capital schemes and expenditure on local authority housing related schemes totalled £14 million, compared with a budgetary provision of £18 million.
The government’s 2013-14 budget approved in February 2013 includes provision for Departmental capital payments totalling £48 million, Statutory Board capital payments totalling £14 million (excluding £35 million loan repayment) plus a local authority housing programme of £19 million.
More on this story in Monday’s Isle of Man Examiner
