Guernsey Press

Just over third of States' £330m. bond is in use

JUST over a third of the States' £330m. bond has been used by the trading bodies, Treasury has said, in response to further questions over the major borrowing.

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Treasury and Resources minister Gavin St Pier has confirmed that £122m. of the bond funds had been taken up by States entities to date.

He was responding to a number of written questions from Laurie Queripel, pictured, relating to the cost and success of the bond, following public and political concerns about the borrowing.

Deputy Queripel asks for details about discussions held with States entities before Treasury committed to the bond, but this is not answered directly in the response from Deputy St Pier.

Instead, the Treasury minister addresses several questions by referring directly to a section of the 2016 Budget report, where it outlines why some trading entity debts had not been consolidated with the bond as anticipated.

Following the responses to his 11 questions, Deputy Queripel said he planned to ask more.

The Guernsey Press has also asked questions relating to the bond, but Treasury has not yet responded.

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