Michael Ring (Mayo, Fine Gael)
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605. To ask the Minister for Education and Skills the position regarding funding (details supplied); and if he will make a statement on the matter. [43898/23]

Simon Harris (Wicklow, Fine Gael)
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I propose to take Questions Nos. 595 and 605 together.

In May 2022, I launched Funding the Future, a landmark funding and reform framework for higher education. Funding the Future confirmed that a mixed funding model would be adopted to ensure the sustainable funding of higher education into the future. This comprises a mix of Exchequer investment, employer contributions through the National Training Fund and student contributions.

Under Funding the Future, a figure of €307 million was identified as representing the quantum of increase in core funding to the higher education sector which is required to deliver enhanced performance, strategic reforms and strengthened quality of outcomes.

Budget 2023 delivered €40m additional funding, aligned to Funding the Future, as an initial step with the intention that over a number of years, further additional core funding will be prioritised through the Estimates process, while taking account of the Government’s budgetary and fiscal stance. Budget 2024. will today confirm a significant increase in funding for higher education with an additional €195 million for the sector. This includes €35 million for pay, €60 for core funding, funding for demographics and other pay and non-related pay costs.