Grant announcement for higher education 2010-11
HEFCE has received the annual grant letter from the Secretary of State for Business, Innovation and Skills for 2010-11.
HEFCE Chair, Tim Melville-Ross, said:
'This year's grant announcement is more challenging than in recent years. We shall do all we can to ensure that we continue investing wisely in high-quality learning and teaching, skills, excellent research, and knowledge transfer activities. We shall be considering the implications of the letter at the Board meetings on 28 January and 4 March in preparation for the announcement of the recurrent grant to universities and colleges on 17 March.'
Read the Grant letter for 2010-11
Section 10 of the letter is particularly relevant to the University:
Financial support for the HE system
10. The Annex to this letter sets out the funding figures for 2010-11. Compared to the figures in last year's grant letter, these include the £180m efficiency savings announced in the 2009 Budget, which you are already implementing; and the deduction of £83m following the letter sent to you by my predecessor in October 2008. In addition, it has been necessary to make an adjustment of £135m from your baseline to meet additional pressures, in particular the higher than expected costs of student support during the economic downturn. It is for you to take final decisions on how to allocate the revised figures. But we are agreed that you should aim to deliver the further savings in ways that minimise impact on teaching and students. I also wish to protect research funding. To achieve these goals, we have agreed to switch £84m from your capital baselines, so that the reductions to the teaching grant can be held to £51m.