Speak to someone working in a UK university and they will tell you there is a problem with financial resilience. Either because they already see it impacting the condition of the buildings they work in, what they can offer students or the type or amount of research they can perform, or because they can see early warning signs of change coming down the line.
The value of universities is often well-recognised by Government and goes well beyond the core roles of education and research. They drive economic growth, develop cures to illnesses, help to solve society’s problems and in addition serve a public good, offering free museums, support for local schools and more. And yet, there is a disconnect between policymakers, the public and universities about the financial health of the sector and what is needed to keep delivering these benefits.
To help address this gap we have worked with Russell Group Finance Directors to provide more transparency into university finances and attempt to offer an evidence-based answer to the question – can universities bridge the funding gap without policy change or additional funding?
