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We need long-term financial stability for the HE sector

Finance_imageUniversity Alliance responds to today’s HEFCE Financial Health of the Sector Report.

Libby Hackett, Chief Executive of University Alliance, said:

“Universities have demonstrated good financial management and the ability to adapt in a period of financial uncertainty. They have made responsible and difficult decisions, which are ensuring the health of the higher education sector.

“The 85% cuts to teaching and capital funding could have hit universities hard but were, on the whole, managed well. The belief that universities are “awash with cash” needs to be tackled as many are working hard to grow or generate new income streams in order to maintain educational standards and facilities for students.

“Whilst universities have managed well in the short-term, student number controls and limited capital investment is not a sustainable position for our crucial higher education sector. We will continue to work with the Government and other interested parties to look at the long-term financial stability of higher education. We will also identify ways in which overall investment and student numbers can increase at a level necessary to ensure the future economic competitiveness of the UK.”

Ends

Media contacts, including enquiries about speaking to Libby Hackett

Andrew Henry, Communications Manager | 07833 236 629.

Notes to editor

University Alliance website: www.unialliance.ac.uk

Embargoed copy of the report can be obtained by contacting Liz McCarty (tel 0117 931 7431) or Philip Walker (tel 0117 931 7363) at HEFCE.

University Alliance is a non-partisan, non-political organisation working to promote, safeguard and sustain the public benefit delivered by universities together with our members.

Alliance members are Bournemouth University, University of Bradford, Cardiff Metropolitan University, Coventry University, De Montfort University, University of Glamorgan, Glasgow Caledonian University, University of Hertfordshire, University of Huddersfield, Kingston University, University of Lincoln, Liverpool John Moores University, Manchester Metropolitan University, Northumbria University, Nottingham Trent University, Open University, Oxford Brookes University, Plymouth University, University of Portsmouth, University of Salford, Sheffield Hallam University, Teesside University, University of Wales, Newport, University of the West of England.

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