The sum of €630.5 million has been provided in the 2004 Estimates for universities and HEA-designated institutions. I have no plans to provide additional funding to the sector this year.
From 1997 to 2004, there was an increase of almost €300 million in the recurrent provision to the university sector. That represents an increase of approximately 90% over the period. Overall funding, capital and current, for the wider higher education sector will stand at €1.48 billion in 2004. That is up €631 million, or 74%, on 1997 levels.
I am aware that the universities will be challenged in the short term by the constraints on recurrent Exchequer funding placed on them in 2004, having regard to overall cost pressures. I appreciate that individual institutions are required to find economies and to become more streamlined in some of their operations in order to reconcile available budgets with pre-existing demands and commitments. That must be viewed, however, in the context of overall increases in investment in higher education over recent years and the Government's longer-term strategic objective for excellence in the sector.
The funding provided in 2001, 2003 and 2003 for universities and HEA-designated institutions was as follows: 2001, €538.0 million; 2002, €592.3 million; 2003, €628.8 million.