Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It is important that we look at the overall context. As I stated, the expenditure ceiling for 2021, as agreed in the Revised Estimates Volume published late last year, is just under €88 billion. However, it is expected that this level of expenditure will be exceeded over the course of 2021. For example, in respect of Covid-related costs, we had made provision for around €12 billion of expenditure, given the length of the restrictions that were imposed in the early part of the year. The decisions made in the national economic plan to extend supports in some instances to the end of the year means that the Covid-related expenditure is now more likely to be around €15 billion rather than €12 billion.

Some of the underspends require context. In the case of the Department of Social Protection, the reason for the underspend is that we transferred an extra €4 billion into the Department recently through further Revised Estimates. In other Departments there are underlying underspends, which the Deputy correctly highlighted. While I am a chartered accountant, as a Minister, I want to see Departments meet their policy objectives and spend the money allocated to achieve Government policies. We are continuing to monitor that and keep it under review.

See this speech in context