Professor Vincent Cunnane:

Senator Byrne highlighted a significant issue, which is student accommodation. Unlike the university sector, we do not have access to funding to build student accommodation. All of us would gladly build commercially oriented student accommodation which would allow for on-campus accommodation. We do not have that privilege because we lack borrowing capacity. We will never take our seat as equals until the borrowing capacity issue is addressed. Some €700 million is tied up in the borrowing capacity of the universities. It has allowed them to diversify their income streams, to attract more international students and to take necessary and innovative steps to increase their funding sources. It would help with Senator Mullen's approach too. When members highlight accommodation, they highlight a deeper issue, which is lack of borrowing capacity for this sector. Even though the capacity is provided for in legislation, it has never been implemented. It needs to be implemented and it is a key requirement for us to fully realise the technological university ambition.