Budget History - Cumulative % Variations from Budget at 2nd Pass Approval

Since Second Pass budget approval of $3,270m, price indexation and foreign exchange variations have accounted for $463m of total budget variation. Significant real variations include: Budgetary Adjustment of $-166m in June 1999 due to overfunding for price indexation and foreign exchange at time of approval; Government approved scope change of $225m in June 2004 for two additional aircraft; and $388m in June 2008 for the significant variation between contracted labour and materials indices and supplementation provided by Government.