Oireachtas Joint and Select Committees

Thursday, 3 April 2014

Public Accounts Committee

2012 Annual Report of the Comptroller General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure and Reform
Vote 12 - Superannuation and Retired Allowances
Chapter 3 - Financial Commitments under Public Private Partnerships
Chapter 4 - Vote Accounting
Chapter 5 - Vote Budget Management

1:00 pm

Mr. Robert Watt:

There are different elements to this. In terms of the national lottery proceeds, the Minister announced a series of projects on budget day and now that the proceeds have come in, the relevant Departments can start the process of initiating those projects. That accounts for €200 million. The Minister has scope in terms of the moneys to come from ESB and Bord Gáis. The money comes in cash over a number of years but for general Government receipts purposes, it comes in over three years because in the account of the general Government receipts, the amounts cannot exceed the normal profits of the companies. All of the money cannot be spent on stimulus in year 1, even if that were desirable, because general Government spending would not match the general Government receipts. The money will come in over three years and the Minister will be announcing various initiatives over the next while ---