Ulster Unionist economy spokesperson, Steve Aiken OBE MLA, has said that devising a sustainable funding model for third level education must be a priority for the new Executive.  He was speaking after the Stormont Committee for the Economy, meeting at the Science Park in Titanic Quarter, received a joint presentation from Queen’s and Ulster University.

Steve Aiken MLA said:

“No one should be in any doubt of the very real funding difficulties that Northern Ireland’s higher education institutions find themselves in and certainly after today’s presentation, members of Stormont’s Committee for the Economy know how real the financial crisis facing our universities is. To bring our universities up to the average level of support for their equivalents in the rest of the United Kingdom would require an investment of around £55m.

“No one in the political sphere can be unaware of how essential it is for the development of our economy that we invest in the skills agenda and reverse the recent disinvestment in higher and further education. However, it is not enough for the Minister for the Economy to issue statements making the obvious link between having a strong higher education sector and the promised reduction in Corporation Tax.

“We all know and acknowledge that skills and employability are vitally important issues for the future of Northern Ireland. To grow our economy, particularly the private sector, we need a steady supply of well qualified people entering the workforce. Therefore, after years of delay and disinvestment, the new Executive will have to take a decision and come forward with a new funding model for third level education.

“The fact is that the current model of funding third level education is unsustainable and no concrete proposals have been produced by the Stormont Executive to address the issue.   In whatever detailed model is designed by the Executive, sustainability must be married to affordability for students.”