Comprehensive spending review: Higher education
The Department for Business, Innovation and Skills (BIS) has announced that the Government intends to change the way higher education is funded, in line with the Browne recommendations.
The announcement was made today (20 October) as part of the Comprehensive Spending Review.
The Government's overall resource budget for higher education, excluding research funding, will reduce from £7.1 billion to £4.2 billion, a 40%, or £2.9 billion, reduction by 2014-15. Funding will continue for the teaching for Science, Technology, Engineering and Mathematics (STEM) subjects. Science and research funding will be supported, maintaining the science budget in cash terms over the Spending Review period. The Government will, by 2014-15, establish a new £150m National Scholarship Fund to support students from disadvantaged backgrounds.
See the press release from BIS www.bis.gov.uk/news/topstories/2010/Oct/BIS-CSR
UUK have responded to the BIS announcement, read their statement at www.universitiesuk.ac.uk/Newsroom/Media-Releases/Pages/UniversitiesUKrespondstoGovernmentSpendingReviewannouncement.aspx
More about the Comprehensive Spending Review is available on HM Treasury's website, see www.hm-treasury.gov.uk/spend_index.htm
Posted in: Higher education news