The recent OECD report on the future of higher education in Ireland makes clear that increased investment in higher education will be necessary if the sector is to play the leading role assigned to it for the achievement of our broader national economic and social aspirations. A key challenge for Government is to ensure that the necessary investment for the development of a world leading higher education system can be made. In this regard, the OECD report has also, importantly, noted that public sources of funding will not yield the levels of increase required.
The current reliance on Exchequer sources of funding for higher education is high here by international comparison. The OECD report strongly recommends an enhanced role and opportunity for diversified private sources of funding for the sector and makes suggestions in relation to these. In this regard, it identifies a need for the sector to develop activities aimed at diversifying their funding streams, including through the commercialisation of research activity, the encouragement of philanthropy, the attraction of fee paying overseas students, short courses for industry, revenues from spin-out companies and other commercial activities. The OECD report also recommends the return of individual student contributions to bridge the funding gap. This option has been ruled out by the Government and there are no plans to re-introduce tuition fees at third level.
I am looking forward to now actively engaging with the Higher Education Authority, leadership in the university and institute of technology sectors, as well as the various other agencies and interests within and outside the sector, in considering and taking forward the overall agenda for the development of the Irish higher education system that the OECD have presented.