Tynwald to be asked to approve £46.8m departmental overspends

Tynwald will be asked to approve the additional spending next month

Tynwald will be asked to approve £46.8m in overspending by four government departments next month.

The largest overspend is by the Department of Health and Social Care, which is seeking an additional £30m.

That is followed by the Department of Education, Sport and Culture, which is £8.9m over budget.

Treasury Minister Alex Allinson said there had been "exceptional pressure" on departments and the sums were partly down to inflation rises and wage hikes.

Additional funding of £5.7m for the Department of Infrastructure and £2.2m for the Department of Home Affairs is also needed.

'Favourable financial position'

The Treasury said the supplementary votes would "result in each being on budget or producing a small underspend at the end of the financial year" on 31 March.

More details about each overspend are set to be outlined by the respective ministers at the February sitting of Tynwald.

Dr Allinson said the Treasury had received regular updates throughout the year and would work closely with the departments to "ensure they continue to exercise strong financial management and control".

While the additional funding was outside the sums budgeted for government spending in 2023-24, he said "a favourable financial position means Treasury is able to avoid the need to draw further on reserves".

That included a forecast of additional income tax revenue of about £48m coupled with £29m less being spent from internal funds.

The overall figures, including the overspends, meant the amount drawn from reserves was expected to be lower than the £152.9m planned, Dr Allinson added.

Spending of £1.2bn for the 2023-24 financial year was outlined in the treasury minister's budget in February 2023.

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