The Funding the Future Framework published in May 2022, outlines the vision for how higher education will be funded and how this will support students, employers and wider society. The Framework identified an amount of €307 million as representing the quantum of increase in core funding required to deliver enhanced performance, strategic reforms and strengthened quality of outcomes.
Since the publication of Funding the Future, an additional €174 million has been secured in exchequer and employer funding with a commitment to deliver a further €100 million by 2030 from the National Training Fund (NTF). It is anticipated that further additional exchequer funding will be secured in future estimates to deliver on commitments, including on priorities such as healthcare places and tertiary programmes.
As part of its oversight role, the HEA meets annually with the seventeen core-funded higher education institutions. The annual Budget and Accountability meetings with senior management in these Institutions, together with the review of budget submissions, annual financial statements and regular reports, constitute key elements of the HEA’s financial oversight and monitoring of these Institutions. This engagement provides valuable information on the financial health and key issues and risks facing the sector.
My officials continue to work with the HEA and the higher education sector, to identify any emerging issues and to look at options to mitigate risks as they arise. This in turn enables me and my officials to build a case and advocate for additional funding for the higher education sector during the annual estimates process.
As the Deputy will appreciate, decisions on budget allocations will be made in the context of Government decision-making on the fiscal and expenditure framework for 2027 and beyond. While I cannot confirm specific items that will be included in the upcoming Budget or the subsequent supplementary estimates process, I can nevertheless assure the Deputy that I will continue to argue for further enhancements to the sustainable funding of higher education in the forthcoming Estimates process.
