The capital budget has nearly halved in the past five financial years from £161.6m to £87.3m.
Central Government has also underspent its capital budget in every year since 2021–22, according to figures released in a written Tynwald answer from Treasury Minister Chris Thomas MHK.
Responding to a question from Rushen MHK Juan Watterson, Mr Thomas published five years of budgeted and actual capital expenditure, showing outturns ranging from 48% to 83% of the allocated funding.
The figures are:
- 2021–22: Budget £161.6m – Actual £77.3m (48%)
- 2022–23: Budget £150.9m – Actual £84.0m (56%)
- 2023–24: Budget £87.0m – Actual £72.6m (83%)
- 2024–25: Budget £71.6m – Actual £49.8m (70%)
- 2025–26: Budget £87.3m – Actual £43.5m (50%)*
\*2025–26 figures remain subject to external audit.
The Minister said the data reflects the performance of the central capital programme over the period, with actual spending varying according to project delivery and operational capacity.
