An MHK has pressed for the government to clarify how decisions on its multi-million-pound Economic Strategy Fund are approved and reported.
Glenfaba and Peel MHK Kate Lord-Brennan fired the question at Treasury Minister Dr Alex Allinson.
Dr Allinson confirmed that while the fund’s spending is detailed in annual accounts, the level of approval for individual allocations – whether by Treasury, Council of Ministers, or Tynwald – is not explicitly stated in public reports.
“The transactions within each internal fund are reported on annually in the Management Accounts issued by Treasury,” Dr Allinson said, noting that the latest published figures cover the year to March 2024, with the 2025 accounts due soon.
The Minister revealed three major commitments requiring Council of Ministers’ approval:
- £12m for historic DfE Enterprise Support Schemes
- £30m for Island Infrastructure Scheme Phases 1+2
- £14m for DfE Enterprise Support Schemes running to 2026
No direct bids have been brought to Tynwald, though some funded projects have been debated indirectly.
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