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WQ.292/2022
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY R.J. WARD OF ST. HELIER CENTRAL
QUESTION SUBMITTED ON MONDAY 14th NOVEMBER 2022 ANSWER TO BE TABLED ON MONDAY 21st NOVEMBER 2022
Question
“Will the Minister provide the Government’s assessment of the current position of bonds and borrowing for funding the construction of a new hospital?”
Answer
In answering wq.233-2022.pdf (gov.je) the Minister set out his assessment of the potential bond costs associated with the approvals as currently provided by P.80/2021: Our Hospital – Budget, Financing and Land Assembly. The costs today are marginally lower than those quoted in that original response.
The Minister also indicated that the recent volatility experienced in financial markets and the subsequent impacts on long-term interest rates mean that the funding strategy for Our Hospital as set out P.80/2021 would need careful review before committing to any borrowing.
The Review of Our Hospital Project has now been published and provides an opportunity to explore new funding solutions which will more closely align any borrowing to the cash flow profile of the project, which should lead to lower borrowing costs.