1:00 AM 18th November 2024
business
Opinion
Image by Gerd Altmann from Pixabay
The latest report from the Office for Students reveals that 72% of universities in England could face deficits by 2025-26, posing a serious threat not only to higher education but also to the wider economy and UK business.
“Universities are one of the UK’s greatest strengths and a key driver of innovation, skills, and economic growth. Today’s new report from the Office for Students hammers home the scale of the crisis faced by our nation’s world leading institutions. Increasing employer National Insurance contributions has also made the situation more challenging, significantly raising staffing costs for universities by £372 million a year.”
“Although vital, this issue isn’t just about universities – it’s about the prosperity of the UK as a whole. The consequences of closures or scaled-back activities would ripple across industry, impacting businesses that rely on graduate talent and cutting-edge research. The university sector is a major reason why multinational businesses invest in the UK, providing the workforce and research collaborations that fuel innovation. We need solutions that protect the unique role universities play in driving growth and global competitiveness.”
This post was originally published on here
