Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

We have a €307 million gap. There is a possibility of at least €150 million in budget 2024 and how that needs to be done. I very much hear what Professor Looney is saying about the piecemeal approach to it. I am concerned about the waste of resources when we have a piecemeal approach like that instead of how we could maximise if we had the core funding sorted out. When I talk about the expensiveness of it, I have huge concerns across the board about how education is funded, commodified and everything else. We need some serious action around that. That does not take away from what is needed.

On the borrowing limits, IUA's opening statement said that many of its members have reached the borrowing limits and will not be able to meet the required growth in STEM provision over the next decade without capital investment. What is the current level of debt across the public higher education system? What are the risks from higher interest rates?