Only £600m available in accessible reserves
The Isle of Man cannot continue to ‘live beyond its means’.
The treasury minister is preparing to publish the quarterly accounts which show government’s income and expenditure.
The Isle of Man Government has £13.8 billion in reserves but only £600 million of that is accessible.
Alex Allinson says a number of departments will report overspends; Manx Care’s already forecast a £16.8 million hole.
He told Manx Radio repeated overspending is more of a problem than capital projects which go over budget:
"I don't see the situation improving drastically over the next couple of weeks"
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