Mr. Seamus McCarthy:

In fact, that is the money that it spent. The note explains that in 2019 funding of €415,000 was approved by the Department of Rural and Community Development to develop a business development plan for a project in the Kerry Gaeltacht. The total amount spent was €661,000 but because the business plan did not end up with a successful or sufficiently attractive project, the investment did not proceed any further. The initial work was quite expensive in itself and effectively that is what has been written off.