Michael McGrath (Cork South Central, Fianna Fail)
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Costs relating to implementation of the Inflation Co-operation Framework (the Framework) are to be met from within existing capital expenditure ceilings, including those for 2023.

At this point, parties have begun their initial engagement and any agreement (and costs associated with inflation) will take a period of time to be worked through. Once the initial engagement is complete and the retrospective payments are made, the specified formulae will be applied to each interim payment in the manner set out in the template agreement to determine the cost adjustment (if any) that is due for inflation.

The cost associated with the implementation of the Framework will not be collated centrally. It is managed at a project level by contracting authorities and reported to approving authorities so the impact on their overall capital ceiling can be assessed and the programme adjusted accordingly. Approving authorities are working within their annual capital ceilings.