Seán Haughey (Dublin North Central, Fianna Fail)

The Government would have been irresponsible if it had not taken account of the changed economic circumstances that have obtained during the past two years. As already stated, the revised plan takes account of the reduced prices that have materialised in the construction sector. It also revises the estimated value of the DIT's property portfolio to reflect current market trends. Circumstances have changed radically in the past two years. As a result, the factors to which I refer had to be taken into account and a revised plan had to be prepared. The plan, as with those relating to many other projects of the same scale, will be implemented in phases. The Tánaiste and I regularly visit institutes of technology.

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