Universities UK have recently published a blog post outlining the implications of the latest spending review on Higher Education. Read on to find out what the impact is on the sector and UUK’s reaction.The Chancellor finally delivered his Spending Review today, ending months of frenzied speculation about the scale of cuts needed for the UK to be a ‘country that lives within its means’.
So what are the implications for higher education?
The Department for Business, Innovation and Skills (BIS), home to funding of higher education, research and innovation, fared relatively well, with a 17% cut in real terms by 2019–20, less than the 25% or even 40% cuts feared.
A significant share of BIS’s cuts were accounted for with the shift from maintenance grants to loans announced in the summer Budget. This change, plus the government announcing that the student opportunity fund will be reduced, and the freezing of repayment thresholds for students, presents challenges to ensuring those from disadvantaged backgrounds can enter and succeed in higher education. Universities UK will be considering this in detail as part of the work of our social mobility advisory group.
Major government announcements often raise more questions than they answer, to read more about what we know so far, UUK’s reaction, and what remains to be decided, click here.