New TU borrowing framework to benefit SETU

The next Government has committed to work to develop a new borrowing framework for technological universities in the draft Programme for Government, to ease the difficulties for institutions such as South East Technological University in accessing funding for capital improvement projects.

The draft Programme for Government was presented to the party memberships on Wednesday, January 15, following an agreement between Fine Gael leader Simon Harris and Fianna Fáil leader Micheál Martin with the support of the Independent Regional Group.

The document commits the proposed Government to "develop a borrowing framework for technological universities and ensure a clear pathway for Technological Universities to access capital funding for initiatives including student accommodation."

Technological Universities are not presently permitted to independently borrow money for capital improvements, in contrast to traditional universities, as legislation permitting borrowing frameworks - written upon the formation of TUs - has yet to be approved.

Newly elected TD, Deputy John Cummins lauded the announcement of the borrowing framework which he described as "key to the growth of SETU".

"I’m also happy with the language we arrived at around creating a borrowing framework for the Technological Universities which is key to the growth of SETU going forward," Deputy Cummins said.

The Programme for Government has also committed to support universities to meet their carbon reduction targets under their Climate Action Plans as well as working to ensure that in cases in which a higher education institution operates across multiple campuses in a region, that there is "balanced senior management representation based across the campuses".

The tri-entity coalition has also pledged to "continue to support the Technological Sector Advancement Fund."