I propose to take Questions Nos. 222 and 224 together.
As stated in previous replies, the actual roll-out of capital expenditure is a matter for individual line Departments and their agencies, operating within the annual allocations approved by Government and the delegated sanction arrangements issued by my Department. As the Deputy will be aware, capital spending has general characteristics which influence the allocation draw-down pattern. Expenditure on capital projects typically occurs in large tranches at fixed milestones, unlike current expenditure which is generally continuous throughout the year. Obviously, this affects the phasing and profiling of capital expenditure. The profiling of capital expenditure is carried out by individual Departments on the basis of the likely timing of payments related to capital projects and programmes which they deliver.
While gross capital expenditure was 13.9% behind profile at the end of November, information supplied by Departments indicates that the majority of their remaining capital budgets will be spent by year end. The spending pattern is in line with trends from previous years which show that the bulk of capital expenditure takes place towards the end of the year. Where it is not possible to spend their capital allocation in full by year end, Departments may apply to carry over unspent capital (up to a maximum of 10% of their Voted capital allocation) into the next year. Any underspends in the capital budget which are not carried over into 2014 will be returned, as a saving, to the Exchequer.
In the context of the requirement to meet our deficit targets and restore our economic sovereignty, each Department must ensure that the Vote level allocations are adhered to and that both capital and current expenditure are managed from within the overall allocation for the Vote. My Department actively monitors all expenditure during the year to ensure that our deficit targets are met.