Other projects will go ahead
Treasury Minister Alf Cannan says the proposed write-off of £95 million of Manx Utilities debt is affordable.
If approved by Tynwald later this month, it will mean the MUA will freeze charges for water, sewerage, electricity standing charges and put a 2% cap on electricity prices for the next year.
However, it does mean £6.5 million a year will be missing from the Treasury Capital Programme.
Mr Cannan says that won't be an issue in the short-term and doesn't mean some other schemes will be put on hold:-
Tynwald to revisit rates bill after the election
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Tourism professional calls for prisoners to clear footpaths
Southern 100 Memorial Service being held today
Northern Civic Amenity Site reuse shed re-opened on a trial basis
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