Difficult conversations’ need to be had about the Island’s frontline services, according to the Speaker of the House of Keys.

It’s after Treasury confirmed four departments are projecting an overspend in the first quarter of this financial year.

Rushen member Juan Watterson, who’s also chair of the Public Accounts Committee, believes it reaffirms the need for budget reform.

He wants more information about departmental spending to be made publicly available more easily:

The Isle of Man Treasury has provided the following response:

“Treasury welcomes engagement with the public and Tynwald Members and will continue to refine and improve the detailed management accounts to ensure transparency and promote scrutiny.

“Particular focus is being placed on improving efficiency around how the accounts are produced for Departments in order to support the ongoing enhanced financial monitoring process.

“These enhanced financial monitoring sessions, or scrutiny panels, are continuing and work is also under way on the Priority-Based Budgeting project, which will help improve the budgeting process for the 2027-28 Budget.

“Both Employee Costs and Other Costs are presented on a gross basis and include expenditure that relate to specific approved internal fund bids rather than spending in excess of budgeted amounts. Treasury is working to improve their future presentation in the interests of transparency.

“Government reserves continue to perform well, with the investment strategy transition now complete. Maximising the income from investments is a key consideration and Treasury has chosen to re-invest reserve fund interest to help strengthen financial resilience and secure a stronger reserve position.”

You can listen to Mr Watterson’s full interview below