States Assembly | Total-figure-as-of-April-2009-of-the-additional-cost-to-the-Islands-taxpayers-resultant-from-the-fai

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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY T.M. PITMAN OF ST. HELIER

ANSWER TO BE TABLED ON TUESDAY 28th APRIL 2009

Question

"Would the Minister clarify the exact total figure, as of 1st April 2009, of the additional cost to the Island's taxpayers resultant from the failure of the previous Minister for Treasury and Resources to ensure that the exchange rates for the part of the incinerator contract to be paid in Euros was fixed before the rate dropped?"

Answer

The Comptroller and Auditor General's report identified the cost of not hedging the foreign currency element of the Energy from Waste Plant - which was NOT a decision made by the previous Treasury and Resources Minister - to be £3.06m.

Total figure&#44; as of April 2009&#44; of the additional cost to the Island’s taxpayers resultant from the failure to ensure that the exchange rates for the part of the incinerator contract to be paid in Euros was fixed before the rate dropped

Total figure, as of April 2009, of the additional cost to the Island’s taxpayers resultant from the failure to ensure that the exchange rates for the part of the incinerator contract to be paid in Euros was fixed before the rate dropped