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Gov't support scheme spend "well below" estimations

Different figures given by minister and CFO

The treasury minister says government spending on support schemes has been "well below" what he estimated at the outbreak of Covid-19.

Mr Cannan has been giving evidence to a Tynwald scrutiny committee this morning, in the third 'emergency' hearing in as many weeks:

"I stated that we thought the cost of the total support packages over the six month period would be possibly up to £600million."

"For the first quarter [three months], we estimate about £60million in total will be our negative net position."

The Chair of the Public Accounts Committee, Juan Watterson, then asked for some clarification.

Chief Financial Officer Caldric Randall used figures from April to explain costs, including lost revenue as well as support expenditure:

You can listen to the full exchange below, with questioning from Juan Watterson SHK:

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