The Government must suspend the planned increase in the financial requirements for stamp 2 visa students from €3,000 to €6,700. This 120% hike was introduced without consultation, without data supporting it, and with no clear link to inflation, which was between 2% and 5%. Stamp 2 visa students can legally work in Ireland and earn up to €18,000 per year. Schools across the country are reporting that students are financially sound. The system is currently working as it is, but this sudden change is already causing damage to the industry. One school has already announced redundancies and it may have to close next week as a result of this. It is not a distant problem. It is happening now. The wider impact extends to hospitality and home care sectors that rely on these workers. I ask the Tánaiste to pause this decision, properly review the data and engage with the sector. These people are coming to Ireland to study and to work. They are providing in our economy. People are employed in these schools. They are spending their money here, while also studying. The consequences of rushing are far too great.

I thank the Deputy for raising this important issue. I undertake to speak with the Minister for Justice and the Minister for further and higher education about this. From my memory, I know changes were made in the regulation and oversight of that sector. I also agree that students who come here are making an important contribution with the part-time work they carry out. I know many businesses in rural and urban Ireland are reliant on those workers. I will raise the issue the Deputy has brought to our attention directly with the Ministers, Deputies O'Callaghan and Lawless, and ask them to reply to him.