Indeed, in 2023-24 the lapse reported by the Public Health Agency was $1.1 billion. All of this money, in large part, was related to COVID-19 expenditures that did not need to take place due to the fact that the emergency phase of the pandemic had subsided. Some of this money, $59 million, was re-profiled to future years.
The lapse is attributed to a reduction in vaccine and therapeutics procurement, a reduction in the need to purchase medical countermeasures and a reduction in the cost of warehousing due to the end of the emergency phase of the pandemic.
If you'd like further detail, our CFO, Martin Krumins, is here and can further elaborate.