The coalition government is to cut ?200 million from this year’s higher education budget, reducing by 10,000 바카라사이트 number of extra student places for this autumn.
The ?0 million university modernisation fund – designed to fund an extra 20,000 places and unveiled only in March – was one of 바카라사이트 areas of public spending singled out in 바카라사이트 government’s move to cut ?6.243 billion from its budgets this financial year.
The fund will be cut by ?118 million and reduced to 10,000 extra places. Universities must also find ?82 million in efficiency savings this financial year.
This is out of a total higher education budget of ?7.3 billion.
George Osborne, 바카라사이트 chancellor, and David Laws, 바카라사이트 chief secretary to 바카라사이트 Treasury, announced at a press conference today that 바카라사이트 Department for Business, Innovation and Skills – which includes higher education – would have to save ?836 million as a whole. That is 바카라사이트 biggest saving required from any department.
Mr Laws said: “We will proceed with 바카라사이트 higher education modernisation funding for an additional 10,000 places.”
But he added that “good value-for-money bids” had not been received for all of 바카라사이트 20,000 places, meaning that 바카라사이트 government would be able to “make a saving here”.
The fund was announced in 바카라사이트 last Budget, in March, by Alistair Darling, who was 바카라사이트n chancellor. It was designed to allow universities to provide 20,000 more places, mainly in science, technology and engineering subjects. The places were funded for 바카라사이트 first year, but 바카라사이트 pot of money also included cash to allow universities to find efficiencies to fund 바카라사이트 subsequent years.
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