Mr. Keith Moynes:

Essentially technological universities are on the State’s balance sheet. That is done by Eurostat which means there are much stricter rules around it than the traditional universities. What we are doing at the moment is a feasibility study to examine the prospects of how we might get a borrowing framework for student accommodation. Rather than looking at it in totality across the range of issues, how might we go about having a borrowing framework specifically for student accommodation? There is work being done on that at the moment and we are expecting some work back in by the end of this year. It is then a matter of testing that, thinking about institutional capability and engaging with the Departments of Finance and public expenditure. The Department of Finance is responsible for the balance sheet.