In response to the confirmed funding allocations to HEFCE for 2013-14, Libby Hackett Chief Executive of University Alliance said:
“In the wake of the biggest change in decades and with the continued uncertainty in student recruitment, efforts to ensure a stable yet flexible system are very welcome.
“This flexibility should help maximize the impact and benefit of higher education by making it more accessible and able to respond to demand. Our economy is only going to demand more graduates in the future, not less, so having a system that is able to flexibly deliver for the economy is critical. The job for Hefce and the sector is to now do what we can to ensure the public, prospective students and their families are fully aware of the benefits of higher education – stronger career prospects, happier and healthier citizens, a more cohesive and creative society and economy, to name a few.
“The Government’s commitment to fund research based on excellence is the right decision, and we will continue to champion the leading research that is taking place right across our university sector. Similarly, the decision to maintain the Higher Education Innovation Fund at current levels is welcome. HEIF remains an incredibly attractive investment for the taxpayer. Estimates place the return on HEIF as £6 for every £1 invested, although this probably underestimates the ultimate benefits to the economy and society thanks to the positive changes it makes to universities’ approach to knowledge exchange in the long term, and the many knock-on benefits for employment and skills that may arise.
“This is a critical time, where the future success of the UK, both in terms of our international competitiveness and social cohesion, will very much depend on the decisions we are making now. We need to be bold, we need to be creative and entrepreneurial, and we need to work together to deliver a high quality and diverse university eco-system, that is centre stage for the knowledge economy we are building.”
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Press contact
Andrew Henry, andrew@www.unialliance.ac.uk | 07833 236 629
Grant letter from the Department of Business, Innovation and Skills
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About University Alliance
University Alliance is a group of 24 universities offering a distinct student experience shaped by a commitment to delivering world-class research and a culture of enterprise and innovation built on close partnerships with business, the professions and their communities.
www.unialliance.ac.uk
