Thank you, Minister.
Basically, we have been working over the past two years with central agencies, especially the Treasury Board Secretariat, to look at how we can manage our budget at National Defence so we can reuse the unspent funds we receive in the year.
If I look at two years ago, for example, we would have had a project that would need additional funding, like $600 million, and another project that would have some delays and we would not spend $100 million. In the old days, we would have requested $600 million, and we would have kept the $100 million and just returned it at the end of the fiscal year.
In lieu of now looking at each capital project one by one and so forth, we look at them as a portfolio. We manage all the funding that we have, and we have the funding only when we need it. Based on that, we have been able to reduce our lapses from three years ago, $2 billion, to less than $850 million this year.