Universities: Finance
The question
To ask the Secretary of State for Education, whether she plans to take steps to identify alternative sources of funding for the university sector.
Answered by Janet Daby
The higher education (HE) sector needs a secure financial footing to face the challenges of the next decade and ensure that all students can be confident they will receive the world-class HE experience they deserve.
The government is also determined to work with the sector to transition to sustainable research funding models, including by increasing research grant cost recovery, as announced by UK Research and Innovation last week. However, universities will also need to take their own steps to ensure they are working as efficiently as possible and, where necessary, make difficult choices.
Ultimately, HE providers are independent from government and as such must continue to make the necessary and appropriate financial decisions to ensure their long-term sustainability.
The department has set out five priorities for reform of the HE system, which relate to access and outcomes for disadvantaged students, economic growth, the civic role of HE providers, teaching standards and efficiency, transparency and reform.
The department will publish our plan for HE reform this summer, and work with the sector and the Office for Students to ensure the system delivers these priorities.
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