The sector holds £44bn in reserves and has a yearly income of over £42bn.
So says UCU general secretary Jo Grady.
She adds:
University vice-chancellors have been given multiple opportunities to use the sector’s vast wealth to resolve these disputes.”
To be fair UCU probably isn’t alone in wondering why universities don’t use our reserves to address the multiple challenges we face. I am pretty sure past and current senior politicians have had similar thoughts.
Jo Grady is factually right to say university reserves are over £42 billion. To be precise unrestricted reserves for the 285 HE providers in the UK HE sector total £42.7 billion as at 31 July 2021, the latest data published by HESA.
