£800m hospital borrowing plan given green light

Thursday 07 October 2021

£800m hospital borrowing plan given green light

Thursday 07 October 2021

Politicians have voted in favour of borrowing £800m to fund the new hospital at Overdale.

32 voted in favour, 14 voted against, and one person abstained.

It came after States Members voted down an amendment by the Future Hospital Scrutiny Panel to cap spending at £550m - 26 against, 22 in favour.

With funding plans in place, a planning application is now due to be put forward within six weeks - by 15 November.

Click HERE to see the full voting breakdown.

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Posted by Keith Marsh on Oct 7th, 2021

We MIGHT get a hospital by 2026 ...... everything is crossed.

Posted by Scott Mills on Oct 7th, 2021

Today, I popped into the shops (more than a few), to purchase some jiffy brown envelopes to send items to the real World. Unfortunately, every shop was out of them, then I read this article, and put 1 and 1 together to arrive at 1.2 bill. Lovely warm but misty beaches today

Posted by MichaelEvans46 on Oct 7th, 2021

I think a few states members will be looking for alternative employment after the next election

Posted by PatrickGormley9 on Oct 7th, 2021

Strange how deputy Jeremy Machon was re installed in a senior position the day before the hospital debate ....mmmmm

Posted by Jon Jon on Oct 8th, 2021

Quite true Macon installed in a senior position day before! Just note who voted in favour, next years election will be coming up fast ,just hope we get far better candidates than this bottom of the barrel lot!

Posted by on Oct 8th, 2021

What they are not telling the public is that the borrowing is a deferred payment and they are only paying the interest for the next 40 years. They are paying interest only on this loan and depositing the money in a fund expecting it to pay 7%.

The loan of 800 million will need to be repaid in total at the end of the loan period. It is not a capital and interest payment with the loan reducing over the term period, taxpayers will still be liable for the full amount when it matures. Heaven help our children.

It is complete madness!

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