David Cullinane (Waterford, Sinn Fein) | Oireachtas source

It is interesting that this is also the institute where there are concerns about spin-out companies and whether the institute is being properly protected. That is why there is a focus on it. The witnesses have now said Waterford IT is possibly the one that concerns them most. In 2008 its core funding was €40,134,000. In 2016 its core funding was cut to €26,460,000, which was a substantial drop. When the Secretary General of the Department was here, he said it was being offset by a rise in fees and the student contribution. Student fees in 2008 were €10,203,000. In 2016 they were €6 million; therefore, they, too, had decreased. The overall contribution from the State in terms of fees and the core grant to WIT was €32,682,000 in 2016, as opposed to €50,338,000 in 2008. If its funding has been cut so substantially, is that, in the first instance, the reason it is in deficit?