Dáil Éireann Debate, Thursday - 20 January 2022
50. Deputy Colm Burke asked the Minister for Public Expenditure and Reform his views on the composition of the €580 million unused gross capital expenditure allocation for 2021 as identified in the end of year Exchequer figures published earlier in January 2022; the way the funds will be allocated; and if he will make a statement on the matter. [2377/22]
View answerThe gross capital underspend of €580 million, as published in the Fiscal Monitor on 5 January 2022, represents the provisional underspend for 2021. The Comptroller and Auditor General, following his detailed audit of each Departments’ accounts, will formally endorse the expenditure outturn for 2021 later this year.
The €580 million variance as published does not take into account €360 million, which was vired from capital to current expenditure by the Department of Housing, Local Government and Heritage. This distorts the underspend for 2021, as the overall capital allocation of €10.5 billion was not readjusted to take account of the virement.
When the overall capital allocation is adjusted to take account of the virement, the underspend will be in the region of €220 million or approximately 2% of the 2021 allocation. The €220 million is not reallocated, but is returned to Exchequer thereby reducing the overall 2021 Exchequer deficit amount.
