Eamon Ryan (Dublin Bay South, Green Party)
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As we approach year end, I am in a position to give you a detailed outline of the forecast year end for capital expenditure. The Department expects an underspend of circa 5% of the total budget of €2,622.254m for 2023. The Department has applied to carry this underspend, totalling €140.920m, into 2024 with an additional €4m being surrendered to the Exchequer as part of the transfer of functions of Shannon Heritage to Clare Co. Council. It is important to note that €137.956m in carryover from 2022 is also expected to be fully invested in 2023. This brings total forecast expenditure within the year up to circa €2.613bn.

As the Deputy will be aware, project management is complex and it is inevitable that there will be some delays to projects in any given year, given the size of the Department's budget and number and complexity of projects under its remit. The purpose of facilitating capital carryover it to allow, within reason, funding tied to delayed projects to move smoothly from one year to the next to support the flow of project investment. In this regard, my main concern is that any underspends arising in the year are minimised and that should underspends arise due to unforeseen delays in projects, that the funds associated with the projects are fully utilised via carryover.

The main areas where underspends have arisen, where carryover exceeded €10 million, are in greenways, EV grants and infrastructure, public transport infrastructure as well as ring-fenced funding for the A5 Border to Derry road. I am generally satisfied that overall, planned investments for 2023 progressed well. The carryover represents a small share of the 2023 budget investment, spread over a relatively small number of projects in different areas, when considered in the context of allthe investment taking place.