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University funding to be slashed
The after-shock effects of the recession are being felt in universities as Higher education minister, David Lammy has warned of reduced funding in the near future. Universities will be expected to find their own income. The minister said, ‘They should not rely on a current review of student tuition fees to shore up their funding.’
As a result of these planned changes the government revealed it would be making extra cuts of £135m to universities, on top of the £600m announced in the pre-budget report, and £180 in efficiency savings. Minister Lammy expects some universities to specialize in teaching a certain amount of specific subjects, whereas many others may have to collaborate in order to form strong research groups.
The Conservative Party, which is increasingly fancying its chances of taking over No.10 Downing Street in the upcoming election, has also set out plans for the Higher Education sector. Shadow Universities Secretary, David Willetts, indicated that his party wants more people to study part-time and pledges to give them a "fairer deal" in terms of government grants and loans.
The Conservatives also say they would create 10,000 extra university places in 2010 and offer graduates a bonus if they pay back their loans ahead of schedule. Meanwhile, the Liberal Democrats have stated they would phase out tuition fees over six years.
Prof Julia Goodfellow, vice-chancellor of the University of Kent, in a communiqué circulated to staff, indicated that the university was in a sound financial position and will adjust accordingly in this uncertain climate. Her statement elaborated the university’s current financial position as, ‘relatively strong, particularly when compared to universities which are making significant cuts generally involving staffing reductions. The University's strong financial position is the result of the responsible and careful financial management of recent years, robust financial control and, in the last year or so, efficiency savings and a positive response by a number of schools/departments to the encouragement to increase income.’