Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I thank the Deputy for raising this issue. It has been a significant week in terms of changing the Government's policy on student accommodation. This week, I went to Government with a proposal that, for the first time, the State will use taxpayers' money to help to build publicly owned college accommodation. I have stated in the House previously that we have been too reliant on the private market in this regard. We are now changing that policy. Three projects, at Maynooth, Galway and Limerick universities, have now been approved as part of that. Five universities have active planing permission and those are three of them. UCD and DCU are the other two and we are engaging to try to get them over the line as well. We have also provided €1 million to technological universities to do a similar exercise to bring in the expertise and capabilities to come up with their own plans. The process and policy have changed this week, however. We are open for business to receive applications from publicly funded institutions where we will bridge that viability gap. The phrase "viability gap" is jargon to an extent but, in effect, it is the difference we need to make up to ensure the accommodation can be built and affordable. I have stated clearly this week, and the Government has agreed, that the accommodation that needs to be provided in return for any investment we make must be made available below the market rate. It must be available at €6,000 or less, which is in line with or slightly below the maximum SUSI grant. That is the new policy we now have in place. The result is that almost 700 units that were stalled for several years and would not otherwise have been built will be able to commence and go ahead in 2023. The bigger picture and the bigger win for the sector and students is we now have a new approach to student accommodation. I know it cannot come fast enough, but it will make a real difference in making sure we have more college-owned accommodation. My challenge to every university and college is for them to send in their plans and get ready because the excuse or truth that the Government is not providing funding for student accommodation is no longer true.

See this speech in context