More than £274.4m over the next five years has been committed in this year’s Budget to fund central government capital projects, with the overall programme worth £429.5m over that period.

Total capital expenditure for 2024-25 is anticipated to be around £101.3m, of which central government schemes make up £68.9m.

The headline announcement is the allocation of £3.2m made from the project development fund to support plans to replace Castle Rushen High School.

The Treasury Minister told Tynwald: ‘We are accelerating the design stages and appointing additional specialist advisers to lead on this major investment.

‘Clear communication and engagement with the communities in the South is key to this project and it is planned to present further details to them in the coming months.’  

Funding in this year’s programme also includes £10m for climate change mitigation and adaption projects, £1.5m to undertake work at Isle of Man Airport and an additional £600,000 for improvements to Ramsey Shipyard.

Investment in the island’s highway network will see £6.125m committed to improvements and refurbishment as part of a rolling scheme, while an additional £1.155m will be available for structural maintenance.

Among the other capital projects listed in the Pink Book include the £.9m new Ballasalla bypass junction and £1.8m to complete the new £3.38m Sexual Assaualt Referral Centre.

Rolling funding of £2.25m for heritage rail maintenance has been committed for each of the next five years.

But that is half the amount it was before it was slashed in last year’s Budget.

There’s bad news though for those who would like to see Bus Vannin purchase even more minibuses – the rolling bus replacement programme has a final payment of £1.437m in 2024-25 and no more funding allocated after that.

The government’s financial plan assumes £85m of capital projects will be delivered each year over the next five years.