Ibec wants €500m rainy day fund to be diverted into colleges

Employers group Ibec has called on the government to put the €500 million from its planned rainy day fund into third level colleges.

Its decision to oppose the creation of the rainy day fund is a headache for the government, which is arguing that it is necessary to prepare for any economic downturn.

Ibec believes that the persistent underfunding of the third level sector is a direct threat to the country’s economic future.