Why the pre-purchase of Euro funds was not put in place at an early stage for the Energy From Waste Plant

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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY THE DEPUTY OF ST. JOHN

ANSWER TO BE TABLED ON TUESDAY 31st MARCH 2009

Question

Given that the Treasury were aware of funding for the Energy from Waste Plant would be required in Euros in July 2008, would the Minister explain why the pre-purchase of euro funds was not put in place at an early stage?

Answer

This matter has been considered and reported on in some detail by the Comptroller and Auditor General in his recent report. As I have already reported to members, a disciplinary process is underway concerning matters arising from the Comptroller and Auditor General's report and I can not comment further at this stage.