Mr. Martin Shanahan:

On the question of the institutes, skills are hugely important. My own belief is that it is the quality of the graduates and what happens in institutions that counts, rather than what they are called. That is not to say that institutes of technology should not aspire to become or to be called universities. Massachusetts Institute of Technology, MIT, is not disadvantaged by the fact that it does not have "university" in its title. Companies are interested in graduates, yes. They are interested in the flow of skills. Any region that can demonstrate that flow of skills is at an advantage-----