University Funding

Date: 21.07.20 | in: Education

This is an extremely important issue with an estimated 30,000 university jobs are at risk, with a further 32,000 jobs under threat throughout the wider economy. The total economic cost to the country from the reduced direct and indirect economic activity generated by universities due to the loss in income is estimated at more than £6bn.
Our universities have been underfunded for a decade and whilst I welcome the financial packages offered to Universities in crisis, we need to see a broader package that will protect all our universities over the coming years to assist with the estimated drop of both domestic and overseas students.
Many students due to start University in September are instead now considering taking a year off and as stated above there will be a vast drop in numbers from oversea students.
I have written to the minister of state for universities, Michelle Donelan, to ask:
“What provisions the government are putting into place to ensure universities are financially protected from loss of earnings due to falling numbers of UK and overseas students due to covid-19”
I fully support Labour’s shadow minister for Universities, Kate Green’s response to the latest financial package announced by the government:
“Today’s announcement shows that the Government is willing to let cherished institutions fail, with catastrophic consequences for local and regional economies.
“Instead of using this crisis as an excuse to centralise control over universities and force through cuts to courses, the Government should pledge that no university will be allowed to go bust.”
I will continue to work with my colleagues on the Labour frontbench to put pressure on the government to provide a support package to our universities to ensure their survival.

All details are correct at date of publication shown at the top of the article

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