Mr. William Beausang:

The State is taking on the risk because it values the reputation of the sector. Over the last couple of years, a large number of schools folded, students were left stranded and we were scrambling around looking for responses. The State takes risks. In the case of deposit insurance, the State risks. The Deputy can be assured that this is not something the Department or the Minister agreed lightly or without adequate consideration. It is a step that is being taken because of the risks that exist and the importance of maintaining the reputation of the sector. The Irish Universities Association, IUA, representative spoke about the funding of the higher education system. As the committee will be aware, a large measure of the recovery in the income of the higher education system has been international fees. It is an open question whether that would be maintained in circumstances where the reputation of Ireland Inc. in education was damaged by large numbers of closures in the English language training sector.