Malcolm Byrne (Fianna Fail) | Oireachtas source

I welcome the announcement yesterday by the Minister, Deputy Harris, of the purchase of the old Waterford Glass site, subject to the approval of the governing body of South East Technological University, SETU. It will be a major footprint as part of the multi-campus SETU. Now that the Waterford campus is being developed, we look forward to the development of the Wexford campus. Things are moving in the right direction in that regard.

I was going to raise the issue of the borrowing framework for the technological universities, TUs, but on my way into the Chamber I got the good news that the commencement order has been signed. Until now, the technological universities, including Munster Technological University, were not able to borrow. This is significant as quite a number of them wished to commence student accommodation. Not being allowed to borrow caused a difficulty in that regard, however. The Higher Education Authority Act 2022 allows for the institutions to borrow but we were awaiting the signing of the commencement order by the Minister. I welcome the fact that the Minister has now signed the commencement order, which will allow the technological universities to borrow for the first time. That is significant. It is important that the TUs now come forward with specific proposals in respect of student accommodation. In most cases, the balance sheets of the TUs are relatively healthy. They can now borrow and the State can provide them with support. In order to go some way towards addressing the housing crisis, it is critical that we have a major investment in student accommodation. I welcome the signing of the commencement order and I hope the TUs will come forward with proposals. There is a need for the House to have a broader debate on student accommodation, however, because I am certain that, come September, it will be a live issue once again.