Tynwald will be asked to approve a transfer of funds next week
Tynwald will be asked to approve an additional £10 million for the new Isle of Man Ferry Terminal in Liverpool.
Treasury will request approval to transfer the money from general reserves to ‘top up’ the capital contingency budget.
If approved, and in addition to the existing contingency balance, government says this will enable the project to progress to completion.
Treasury Minister Alex Allinson said: “‘While the project is in its final phase it remains ongoing and the final out-turn cost will not be known for some time.
“Topping up the capital contingency fund is designed to provide the strategic board with the financial support necessary to see it to completion.”
Any money not spent will be returned to general reserves.
Infrastructure Minister Chris Thomas added: “The project team has worked closely with Treasury throughout this challenging scheme and is looking forward to the Isle of Man Ferry Terminal welcoming its first passengers next year.
“I welcome the Tynwald Public Accounts Committee’s continuing investigation into this project from beginning to end.”
Manx Radio has invited the Treasury Minister and Infrastructure Minister to be interviewed - both declined.
Investigation launched following school bus incident
'No objections' to Royal British Legion collecting at TT Grandstand, says DfE
Strong winds cause 'significant damage' at the TT Grandstand
Everest (Isle of Man) Ltd to enter voluntary liquidation
Living wage increases to £13.05
King Scallop season moves into final week
