Mr. Robert Watt:

Out of a budget of €22 billion, even with fantastic budget execution and forecasting and things panning out pretty much as one would expect, one is still going to have variance around that.

A variance of 1% is €200 million. That is 99% accuracy if there is an underspend. It is inevitable that within the system there will be a variance of perhaps between 1% and 2%. In cash terms that seems like a lot but as a percentage of the budget it is actually not a lot.