Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

The forecast outturn was €3.3 billion, as I understand, and the variation here is €34 million. I shall just read out my note. Of the moneys unspent but not carried - these mostly represent a number of small underspends across a range of Votes as outlined by the Deputy - some Departments have unspent capital in excess of the 10% limit for carry over.

Unlike current expenditure, capital tends to be lumpy in nature. It is difficult to predict precisely when capital moneys will need to be drawn down of which there are many examples in my Department. Let me give a flood defence scheme as an example. If the profiling for capital expenditure is €21 million for a three-year period, such a scheme may not be consistent with three years and may take longer periods to complete. It is all based on when contracts come in. One could be in dispute with a contractor. For instance, something could happen at the end of a contract while working on a snag list.

The figures related to capital expenditure in 2013 demonstrate that carryover is working. Departments are able to retain a small but reasonable amount to help progress within the year. It very much depends when the bills come in. It is not a question of those being lost, as I understand, when the total amount of carryover, from last year to this year, is only 3.5% in total. That is well within the 10% maximum provided for in the original legislation.