The Capital allocation to my Department in 2019 is €620 million. This represents an increase of 11.7% on our 2018 allocation of €555 million. The total Capital allocation monies expended by the Department at the end of May was €201.68 million. This is some €16 million (7%) behind profile. In addition the Department carried over €27.6 million in capital from 2018, of this carry-over, €24.8 million was expended to the end of May, this is €1 million behind profile. The breakdown of the capital allocations and the end of May expenditure position, by subhead, is set out in the following table.
|
Subhead
|
2019 REV AllocationCAPITAL(€,000)
|
Expenditure to end May 2019CAPITAL(€,000)
|
Variance from Profile + Ahead of Profile - Behind Profile(€,000)
|
|
A4 - Intertrade Ireland
|
6,695
|
3,867
|
+116
|
|
A5 - IDA Ireland*
|
162,800*
|
44,500*
|
0
|
|
A6 - NSAI
|
500
|
0
|
-50
|
|
A7 - Enterprise Ireland
|
65,750
|
13,200
|
-11,800
|
|
A8 - Local Enterprise Development
|
27,500
|
13,600
|
0
|
|
A9 - Temporary Partial Credit Guarantee Scheme
|
500
|
176
|
-64
|
|
A10 - INTERREG Enterprise Development
|
3,000
|
1,758
|
-268
|
|
A14 – Future Growth loan Scheme
|
6,000
|
1,269
|
-4,731
|
|
A15 – Humanitarian Relief Scheme
|
1
|
0
|
-1
|
|
B4 – Enterprise Ireland
|
122,000
|
33,415
|
0
|
|
B4 – Science Foundation Ireland**
|
179,550**
|
80,984**
|
0
|
|
B4 – Tyndall Institute
|
5,500
|
1,045
|
0
|
|
B5 – Programme for Research in Third Level Institutions
|
24,300
|
20,320
|
0
|
|
B6 – Subscriptions to International Organisations
|
23,504
|
12,348
|
-210
|
|
B9 – Disruptive Technologies Innovation Fund
|
20,000
|
0
|
0
|
|
Total***
|
647,600***
|
226,482***
|
-17,008
|
*Includes Capital Carryover from 2018 of €20.8m
**Includes Capital Carryover from 2018 of €6.8m
***Includes Capital Carryover from 2018 of €27.6 million
As advised, capital expenditure, including carryover, was a total of €17 million behind profile as at the end of May. This is essentially due to a number of instances where there has been a delay in the roll out of certain programmes and also other instances where greater than anticipated amounts of Own Resource Income have been generated by a number of Agencies of the Department, thereby substituting the need for exchequer funding.
Notwithstanding the advised end of May capital expenditure position, I am satisfied that the Department will fully expend its capital allocation, as I am conscious of the importance of our capital programmes in getting business Brexit ready, driving indigenous enterprise and regional growth, getting business Brexit ready and investing in research and innovation.
