Vol. 502 No. 3
299 Mr. Quinn asked the Minister for Finance the moneys, if any, expended from the £40 million year 2000 contingency fund announced at the last budget; if he is satisfied the fund is sufficient to deal with any potential difficulties that might arise; and if he will make a statement on the matter. [8250/99]
Work to deal with the year 2000 problem has been under way since 1996 and covers the Civil Service and public services agencies. The Government is regularly informed on the position.
As there are no precedents, it is widely recognised that it is difficult to anticipate exactly what remedial action will be necessary and the total costs involved. I am, however, satisfied that the substantial contingency sum of £40 million I have set aside should be adequate to cover any necessary additional expenditure that may arise.
The purpose of the contingency sum is to provide for necessary expenditure in relation to the year 2000 problem to the extent it cannot be met from normal allocations.
No moneys have as yet been expended from this contingency sum, and I do not expect that such expenditure will be required until later in the year, when it will be easier to judge the extent to which existing allocations may need to be supplemented.
