Bid to allocate extra £10m contingency for Liverpool ferry terminal

The cost of the project had already doubled to £70m

A further £10m could be put in a contingency fund to help cover the rising costs of the Manx government's new ferry terminal in Liverpool.

Treasury Minister Alex Allinson will ask Tynwald to approve the transfer from reserves next week.

An initial £5m was previously put into the Capital Contingency Budget as part of the 2023-24 Manx budget.

If approved, as much of the fund as needed to complete the project would be used, on top of the £70m already spent.

A Treasury spokesman said any funds from the additional transfer that were not needed would be moved back into general reserves once the project was finished.

The project, which was initially due to cost £38m, has been marred by setbacks and spiralling costs since work began in 2019.

Work on the project initially began in 2019

Although it had initially been hoped the new terminal at the Princes Half Tide Dock would be in use by the end of 2020, the completion date has repeatedly slipped due to delays caused by issues including the coronavirus pandemic, unexpected issues with the site, and inclement weather.

Dr Allinson said, although the project was now in its final phase, work remained 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," he said.

Statements on the ferry terminal project and the island's air and sea services are also due to be made by Infrastructure Minister Chris Thomas at the July sitting of Tynwald.

Mr Thomas said the project team had worked closely with the Treasury throughout the "challenging scheme", which would welcome passengers next year.

An investigation into decisions made about the project is currently being carried out by Tynwald's Public Accounts Committee.