Dáil Éireann Debate, Wednesday - 21 October 2020
206. Deputy Rose Conway-Walsh asked the Minister for Further and Higher Education, Research, Innovation and Science further to Parliamentary Question No. 236 of 14 October 2020, if Dublin Technical University currently holds no debt; if he plans to create a borrowing framework for the technological universities to allow them to borrow in the future; and if he will make a statement on the matter. [31917/20]
Amharc ar fhreagraI wish to advise the Deputy that TU Dublin does not have a borrowing framework and has no debt.
The Universities Act, 1997 contains a provision for universities to borrow within a framework agreed with the Higher Education Authority. This framework, which was agreed with the now Department of Further and Higher Education, Research Innovation and Science and the now Department of Public Expenditure and Reform, has been in operation for many years. A similar provision to allow Institutes of Technology to borrow is contained in the Institutes of Technology Act, 2006, and for Technological Universities under the Technological University Act, 2018, however this provision has not been enacted.
Technological Universities (TUs) are considered to be General Government entities and borrowings by TUs would contribute towards General Government expenditure and affect the General Government balance.
The Department continues to assess in consultation with stakeholders, including TU Dublin and the Department of Public Expenditure and Reform, the appropriate development of a borrowing framework for technological universities.
