How colleges to gain from the €1.2bn Budget boost

THE Government followed through on a massive €1.2 billion Budget-day promise for the third level sector yesterday, announcing details of 35 new construction projects in universities and institutes of technology.

The five-year funding package, first announced in last week’s Budget, is being seen in the sector as welcome Government recognition of the strategic importance of third-level education.

Dubbed “groundbreaking” by the Irish Universities’ Association on Budget day, the final announcement of projects now given approval was yesterday described as the most visionary reform of the institutes of technology in more than 30 years by the directors of the institutes.

€900 million of the fund is earmarked for 35 capital projects in institutes of technologies and universities where some facilities have often been criticised as inappropriate and inadequate.

The remaining €300m goes into a new Strategic Innovation Fund (SIF) which will be awarded to institutions which successfully reform to meet wider economic and social targets.

Of the projects announced yesterday, 17 will be built through Public Private Partnerships (PPP) with another 18 projects, worth more than €300m, to be funded directly by the exchequer.

Outlining details of the 35 new projects across the country yesterday, Taoiseach Bertie Ahern said the higher education system was crucial to Ireland’s development.

“We need to produce quality skilled graduates that can meet the high value jobs needs of the emerging sectors of the economy.

“We especially need to develop a fourth level system of research which will be the engine of our future growth,” he said.

Mr Ahern said he was satisfied that the PPP projects would not be delayed like the Cork School of Music since that delay had been the result of a bankruptcy.

Education Minister Mary Hanafin said the innovation fund would support change and improve performance in third level institutions.

Responding to the new funding, Dr Tom Collins of the Council of Directors of the Institutes of Technology said it was “probably the most visionary announcement for the sector” since the first regional technical colleges were built in the 1970s.

He said the investment would “help develop world class infrastructure in the institutes of technology that, in turn, will allow us deliver the type and numbers of graduates so essential to Ireland’s developing knowledge-based economy”.

Meanwhile, in another post-Budget announcement, Housing Minister Noel Ahern outlined details of a €4bn housing initiative for the next three years, under which almost 23,000 new social housing units are promised.