Claims by Manx National Heritage that it could cost £5 million to return the historic schooner Peggy to Castletown were branded ’fantasy’ by Chief Minister Howard Quayle.

His comments came as members last week backed a motion from Jason Moorhouse (Arbory, Castletown and Malew) that called on Manx National Heritage to outline the best way to house the historic vessel in Castletown and come up with a business plan and timetable within six months, in order to seek funding.

MNH has said the aim is to return the Peggy to Castletown but chairman Jonathan Hall warned it could cost more than £5 million.

The Peggy was moved from the boathouse at the Nautical Museum in 2015 to a conservation facility in Douglas for controlled drying out.

Mr Quayle said he was happy to support Mr Moorhouse’s bid to bring the Peggy back to Castletown but warned: ’In no way do I support the spending of £5 million or anything near that.’

He said a plan to return the Peggy could have been developed years ago and described the £5 million by MNH quoted as a ’fantasy’ figure.

When tabling his motion earlier, Mr Moorhouse said: ’The Peggy belongs in Castletown.

’This is about empowering the trustees at Manx National Heritage within the next six months to prepare a realistic and practical proposal for the return of the Peggy to the island’s Nautical Museum within an acceptable timescale and budget.

’After almost seven years carrying out world class conservation on the Peggy it is time to empower the trustees to create a workable vision.’

Mr Moorhouse said if MNH came up with a viable scheme, it was more likely to obtain Treasury funding.

He was seeking a report to outline options rather than committing to £5 million, he stressed.

The move was backed by constituency colleague Graham Cregeen, but he criticised MNH

’It is Manx National Heritage’s duty to actually preserve those items that are in their possession,’ he said.

He said he was ’deeply concerned’ at the £5 million figure being quoted, describing it as an attempt to ’scuttle any return of the Peggy to Castletown’.

Mr Cregeen questioned the need for a new building to house the Peggy and called for MNH to come up with a more ’realistic’ budget.

Others were less enthusiastic.

Bill Shimmins (Middle) said funding for any scheme should be through a public appeal and hit out at a ’blank cheque’ approach.

’Don’t come here looking for these funds,’ he argued. ’If you think it is that important go to the community of Castletown and say, "Help us do this."’

Lawrie Hooper (LibVannin, Ramsey) demanded an explanation of what supporters thought was a realistic cost.

Kerry Sharpe MLC, however, argued: ’This is the world’s oldest schooner.

’I am not saying we should spend £5 million of taxpayers’ money but I think we should be making far more of this schooner and we should be displaying her correctly, fully rigged and making her a tourist attraction for the island.’

The Peggy had remained hidden in a dock in the cellar of owner George Quayle’s building in Castletown for more than a century. Quayle’s house became the Nautical Museum and many want to see the 18th century vessel returned there.

But MNH says a purpose built facility is needed so it could be displayed fully rigged and kept in the right conditions.

Several members warned against dictating to MNH and said Tynwald should trust expert opinion.

Tynwald voted in favour of Mr Moorhouse’s motion 17-6 in the Keys and 5-3 in Legislative Council.