Budget: ageing ‘national assets’ reap capital spending benefit
The latest Budget comes with a significant rise in capital expenditure of 21 per cent, or $182 million — marking the “largest planned capital programme since 2008-09”, MPs heard.
David Burt, the Premier, called it “another step towards increasing capital spending to the goal of 2 per cent of GDP” as he delivered the statement for the 2026-27 Budget.
The spending goal touched on remarks from the Budget two years ago, when Mr Burt lamented the poor condition of the island’s infrastructure and set 2 per cent of GDP as a minimum threshold for capital expenditure.
Mr Burt told the House of Assembly: “For too long, the Government has been forced to stretch the life of critical assets because the finances simply did not allow us to do what needed to be done.
“That approach comes with a cost, and eventually that cost shows up in breakdowns, delays and risks to public safety.”
The Premier said that the island’s stronger fiscal position meant that “we are now better placed to invest for the future while being more proactive on maintaining existing assets”.
The Government has budgeted $9.4 million for the Swing Bridge in St George’s, as well as $8.8 million for the expansion of the Tynes Bay Waste-to-Energy facility, which Mr Burt called “national assets that must work”.
An extra $4.5 million has been put aside to refurbish several government properties.
These include Montpelier in Devonshire, which is designated as the deputy governor’s residence but has fallen into disrepair after being left empty since 2018.
Mr Burt also referenced the ballroom at the historical Admiralty House in Pembroke, which dates to the 19th century but is now the subject of a management plan because of its dilapidated condition.
Another asset up for special attention is the St David’s Lighthouse.
The landmark, which was deemed unsafe, has been closed to the public and visitors for more than two years, and was slated for a full renovation to begin this year.
• To see the 2026-27 Budget Statement, see Related Media
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