Will the Minister give an assurance if the Jersey College for Girls site is sold proceeds will not be used to defray the budget deficit but will be categorised into another project
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2.10 Connétable D.J. Murphy of Grouville of the Minister for Treasury and Resources regarding the proposed use of the proceeds from the sale of the former Jersey College for Girls site:
Will the Minister give Members an assurance that if the Jersey College for Girls site is sold the proceeds will not be used to defray the budget deficit but will be categorised into another project?
Senator P.F.C. Ozouf (The Minister for Treasury and Resources):
Yes, I can confirm that the proceeds will be put to the capital programme funding. Treasury Financial Direction 6.6 contains detailed guidance on the use of capital receipts, which I have the ability to direct. Where fixed asset disposals take place, the proceeds from disposal remain in the Consolidated Fund and are unavailable to spend unless the relevant approval is obtained, of course, from this Assembly.
2.10.1 The Connétable of Grouville :
Would the Minister please inform the House who will be deciding what is an acceptable bid and would he ensure that the appropriate Scrutiny Panel is consulted before the decision is made?
Senator P.F.C. Ozouf :
I propose to call in that decision myself because it is a substantial decision but upon the advice, of course, of my Assistant Minister, and I will take advice as to the extent to which I can involve the Scrutiny Panel.