Alderney wants to stash some cash

ALDERNEY'S financial relationship with Guernsey needs to change, according to the president of its States, Sir Norman Browse.

In his annual newsletter, Sir Norman (pictured) criticised Treasury and Resources for not allowing Alderney to keep a contingency fund.

He believed the island might need to save cash in order to progress the tidal energy project.

'If our own household budget was faced with similar challenges, we would be putting money aside to meet the anticipated future expenses,' said Sir Norman.

'Unfortunately, the current budget rules do not allow the States to save money. The department of Treasury and Resources in Guernsey does not allow us to put money into a contingency fund, even though it keeps a large contingency fund in its own coffers.'

Sir Norman said the rules required Alderney to spend any money made from its lucrative e-gaming industry almost immediately.