Capital projects

 

Capital projects:

Almost £275 million could be spent on the Isle of Man over the next five years on central government capital projects.

The most high-profile project receiving money this year is the new Castle Rushen High School.

£3.2 million has been allocated to 'accelerate' plans for the new school and sports complex, which will include a six-lane pool.

The total capital programme for 2024-2025 stands at £101.3 million but it’s anticipated expenditure will reach approximately £85 million.

Just under £70 million has been allocated already in this year’s Budget including:

• £10 million for ‘climate change mitigation and adaptation projects’
• £6 million to improvements and refurbishment of the Island’s roads with £1.15 million available for ‘structural maintenance’
• £2.25 million for heritage rail works  
• £1.5 million for works at the Isle of Man Airport
• £678,000 for the development of a Home Affairs Communication Programme
• £600,000 for improvements at Ramsey Shipyard

Meanwhile, Manx National Heritage has received a 5% increase to its grant, now totalling £5,040,000.

Just over £1 million has also been committed for the second phase of repairs to the Laxey Wheel.

It's also been granted Minor Capital Approval - £200,000 for MNH generally, £200,000 for its properties generally and £124,000 for its accountancy system and consultancy.