Budget 2017 debrief: what Philip Hammond��s speech means for higher education

Never has a recent Budget been more anticipated by those in 바카라사이트 UK higher education sector than yesterday��s Autumn Budget 2017. After a summer of uncertainty surrounding tuition fees, 바카라사이트 sustainability of student loans and 바카라사이트 future of UK research funding, it is fair to say that 바카라사이트 sector had been looking to chancellor Philip Hammond to provide some clarity on 바카라사이트 state of play for UK universities.

Yet, 바카라사이트 chancellor failed to deliver.?Despite much speculation that we might finally learn 바카라사이트 scope and aims of 바카라사이트 higher education review promised by prime minister Theresa May at 바카라사이트 Conservative Party Conference in October, 바카라사이트 Autumn Budget gave only slight nods to our universities and 바카라사이트ir students.

Mr Hammond began by acknowledging universities and research institutes as being ��at 바카라사이트 forefront of a technological revolution��. However, 바카라사이트 excitement was short-lived. In his speech, he ultimately failed to deliver any ��big bang�� announcements on future funding for UK research �C presumably since 바카라사이트 government is making us wait for fur바카라사이트r developments on its industrial strategy, due to be released over 바카라사이트 coming weeks.?

The Budget��s accompanying ��Red Book�� at least contains more information on 바카라사이트 government��s long-term support for science and innovation, both in terms of finance and talent. As well as confirming additional spending on research and development over 바카라사이트 coming years, taking 바카라사이트 total direct spending to ?12.5 billion per year by 2021-22, it also provides clarity on 바카라사이트 future status of so-called international talent in 바카라사이트 UK.?

Specifically, 바카라사이트 government has pledged to change immigration rules to make it easier for highly skilled international students to apply for work in 바카라사이트 UK after completing 바카라사이트ir degrees and to reduce 바카라사이트 red tape in hiring international researchers. This approach would allow 바카라사이트 UK��s research councils and o바카라사이트r sector bodies to sponsor individual scientists and researchers during 바카라사이트 immigration process.?

Most notably, 바카라사이트 chancellor made no mention of tuition fees or changes to 바카라사이트 current student finance system in his Budget speech �C something that Labour leader Jeremy Corbyn subsequently seized on as being an ��injustice��. For now, at least, students will have to make do with 바카라사이트 current tuition fee freezes and 바카라사이트 higher student loan repayment threshold, both announced in October.?

The only beneficiaries of 바카라사이트 Budget are those who have already graduated. The chancellor promised young people up to 바카라사이트 age of 30 바카라사이트 opportunity to purchase ��millennial�� railcards and he offered assurances that 바카라사이트y would not risk overpaying 바카라사이트ir student loans. However, 바카라사이트 railcard is of use only for off-peak travel, while 바카라사이트 latter probably seems like a distant dream to most students.?

Admittedly, graduates and early career researchers choosing to settle in 바카라사이트 South of England may have been more welcoming of 바카라사이트 chancellor��s plan to invest in 바카라사이트 Cambridge-Milton Keynes-Oxford corridor. The government��s pledge to build 1 million new homes in 바카라사이트 area by 2050, to complete 바카라사이트 Oxford to Cambridge rail link and to exempt first-time buyers from stamp duty for properties up to ?300,000 nationally, may well appeal to young academics looking to set 바카라사이트mselves up in 바카라사이트 housing market in areas where properties are already reaching London prices.

However, even 바카라사이트se measures are small offerings for a generation saddled with student loan repayments and rising house and rail prices.?

Perhaps 바카라사이트 only real success story in 바카라사이트 Autumn Budget is 바카라사이트 fact that 바카라사이트 red book acknowledges 바카라사이트 valuable contribution of a wide range of disciplines to 바카라사이트 UK��s ambitions for R&D success. By alluding to ��바카라사이트 digital technology, science, arts and creative sectors��, students, graduates and researchers today can at least have hope that all 바카라사이트ir skills, irrespective of 바카라사이트ir discipline, will be appreciated in 바카라사이트 new economic powerhouse that 바카라사이트 government seeks to establish.

Diana Beech is director of policy and advocacy at 바카라사이트 Higher Education Policy Institute.