Ms Ann Campbell:

That is true. We have not been able to reduce the accumulated deficit since these accounts were published. The accumulated deficit still stands. Our priority under the plan agreed with the HEA was to return to a balanced budget by 31 August 2018. We have been successful in achieving that. In fact, in the last academic year we had a modest surplus of just over €100,000. I think it was €120,000. Our forecast suggests that we will at least break even this year.

Going back to the Deputy's earlier remarks on the importance of ensuring the future of the industry, I could not agree more. We have to return to sustainability. That has to be done in steps. The first step is to ensure that we operate on a break-even basis and that we grow student numbers through measures that will hopefully at some stage include increased State funding, but also through measures for which we have to be responsible ourselves. In our new strategic plan we are particularly targeting growth in the provision of life-long learning, growth in online provision and ensuring that international student recruitment continues to bring in money for the institute and to grow that area if possible.