Runway could cost an extra �2.2m

The issue will be brought up at the Tynwald on Tuesday

It is claimed plans to extend the runway at Ronaldsway Aiport could cost more than �2m extra following a government oversight over currency.

Payment for the project is in Euros, but Rushen MHK, Juan Watterson, claimed the Treasury had failed to buy the currency early enough.

It is now expected to cost taxpayers �2.2m more than first planned.

Mr Watterson said he raised the issue in 2008 and was told the situation "was in hand".

Mr Watterson said he will raise the issue before ministers at the Tynwald on Tuesday.

'Really embarrassed'

He added: "It appears Treasury hasn't bought the Euros and that's led, because of the decline in the currency, to an increase in the bill of �2.2 million, for getting absolutely nothing extra down at the airport.

"I think someone ought to be really embarrassed about this."

"I think most people were expecting the pound to decline against the Euro over the last twelve months.

"It's come to pass, so we would have expected that they would either have bought the Euros back last February, or bought a forward contract for when they were due.

"Neither of those things appears to have happened."

Last year the Tynwald approved plans to extend the runway by 245m (800 ft).

It is part of a �44m plan due to be completed in late 2009.