An Isle of Man Government contingency fund has only been dipped into once this year, according to the Treasury Minister.
Dr Alex Allinson has revealed just over £1m was handed to the Department of Environment, Food and Agriculture (DEFA) to help deal with damage caused by two major storms earlier in the year.
He was responding to a written Tynwald question submitted by Glenfaba and Peel MHK Kate Lord-Brennan who asked the Minister what departmental bids or business cases have been approved or supported this year with contingency funding. She also asked what contingency funding is and where it is drawn from.
Dr Allinson responded by saying: ‘To date the only bid or business case that has been approved or supported this financial year from the contingency fund or the revenue contingency budget held by Treasury, is for DEFA in relation to damage caused by Storm Darrah and Eowyn for £1,054,200.
.jpeg?width=209&height=140&crop=209:145,smart&quality=75)
‘This has been made available from the Contingency Fund for the 2025-26 and 2026-27 financial years.’
The revenue contingency budget can be accessed by departments or boards encounter unanticipated costs that cannot be absorbed within the planned budget. The level of contingency has been set at £19.7 million for 2025-26.
Dr Allinson explained in the written answer when the fund can be accessed and he has set aside cash for struggling Manx Care.
He said: ‘The revenue contingency budget held by Treasury can be accessed upon presentation of a robust business case should departments or boards encounter unanticipated costs that cannot be absorbed within the planned budget.
‘A total of £10 million of the revenue contingency funding has been included specifically for potential Manx Care cost pressures. The Manx Care financial position is being closely monitored by Treasury.’