Treasury Minister Dr Alex Allinson has stated that it is not currently possible to provide a meaningful cost estimate for the Westmoreland Village Development.
He asked about the issue by Chris Thomas and Julie Edge in Keys today.
Dr Allinson said he couldn’t provide full details, noting that the project is still awaiting formal planning approval and that he couldn’t release figures that would be “commercially sensitive”.
The development is planned to be financed through the Manx Development Corporation’s (MDC) revolving credit facility with Lloyds Bank, which Dr Allinson said “does not restrict government’s capacity to borrow”.
The MDC is expected to present its updated five-year strategy and medium-term funding requirements to Tynwald early in 2026.