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Department for Business, Innovation and Skills
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University funding confirmed for 2012-13
The Government today published its annual grant letter to the Higher Education Funding Council for England (HEFCE).
Secretary of State for Business Vince Cable said:
“It is important that we deliver a stable and sustainable funding environment for universities as our reforms bed in. This grant letter confirms the funding levels we signalled last year.
“This year also sees the introduction of the new National Scholarship Programme. This will play a critical role in ensuring our universities attract a more diverse range of students.”
Minister for Universities and Science David Willetts said:
“Our universities play a vital role building the skills and knowledge Britain needs to grow. That is why we have protected HEFCE funding for research and why, despite difficult public finances, we expect the total funding available to the sector could increase by 10 per cent in cash terms as a result of our reforms.
“We are increasing the total funding available to the sector –
with a projected rise from £9.3 billion in 2011-12 to £9.8 billion
in 2013-14 – and our reforms will enable successful universities
to expand if they wish to do so. However it is also essential that
the sector works collaboratively to lower their costs. Changes to
the VAT treatment of shared services, lowering the cost of
procurement and work to reduce the burden of data collection give
universities the chance to prioritise more of their resources for
teaching and research.”
Notes to editors
1. The grant letter has been published online at http://www.bis.gov.uk/assets/biscore/higher-education/docs/L/letter-he-funding-25-jan-2012.
2.
HEFCE is a statutory non-departmental body created under the
Further and Higher Education Act 1992. HEFCE funds teaching and
research in 131 universities and HE colleges and higher education
courses in 128 further education colleges in England.
3.
BIS's online newsroom contains the latest press notices,
speeches, as well as video and images for download. It also
features an up to date list of BIS press office contacts. See http://www.bis.gov.uk/newsroom
for more information.
Contacts:
BIS Press Office
NDS.BIS@coi.gsi.gov.uk
Michael Gibbs
Phone: 020 7215 1635
michael.gibbs@bis.gsi.gov.uk
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