University funding for academic year 2011 - 2012 announced

Thursday, 17 March 2011

The Higher Education Funding Council for England (Hefce) has announced final figures for next year's grants for teaching and research for all higher education institutions. With an overall reduction of 6.5% across the sector, the Vice-Chancellor comments on the Hefce funding grant for the University of Reading and its implications for the future:

The University of Reading is disappointed that the Government, through the Higher Education Funding Council for England, has reduced funding for the sector for 2011/12 by almost £1 billion. This cut comes one year in advance of the introduction of higher tuition fees, which are designed to provide universities with replacement income for the withdrawal of state funding. 

It is of particular regret that the UK Government is disinvesting in higher education at a time when universities can be a real driver for economic growth and our competitor countries are making substantial investments in their own higher education systems.

The University of Reading's Hefce settlement for 2011/12 is £47.5 million, a reduction of 3.8% on 2010/11. The University had planned and budgeted for a reduction, based on the Government's previous announcements that it was planning to reduce the teaching grant and change the funding weighting for research across the sector. 

While any reduction in Government funding for the University is to be regretted, the University is relatively well-insulated from the impacts of this latest change, as it receives around only a quarter of its overall income from the funding council. 

More on the HEFCE announcement and details of the grant can be read here: http://www.hefce.ac.uk/news/hefce/2011/grant1112/