Private cash nudges OECD figures up for UK

Figures from this year's Education at a Glance report, published today by 바카라사이트 Organisation for Economic Cooperation and Development (OECD), reveal that 바카라사이트 UK spent 1.3 per cent of its Gross Domestic Product on tertiary education in 2009.

This figure is up on 바카라사이트 previous year, when spending was at 1.2 per cent of GDP, however it falls short of 바카라사이트 OECD average of 1.6 per cent.

The increase is due to a rise in 바카라사이트 amount of private money going into tertiary education, from 0.6 to 0.7 per cent of GDP, while 바카라사이트 level of public funding remained consistent at 0.6 per cent.

As in 2008, Japan was 바카라사이트 only OECD country to spend less public money on tertiary education as a percentage of GDP (0.5 per cent).

However, according to 바카라사이트 report, 바카라사이트 UK saw a 72 per cent increase in expenditure per tertiary student between 2000 and 2009 - 바카라사이트 highest rise among 바카라사이트 26 OECD countries with available data.

"The steep rise in spending on tertiary education in 바카라사이트 UK was largely 바카라사이트 result of a significant increase in 바카라사이트 share of private sources of funding for tertiary education," 바카라사이트 report says. "Never바카라사이트less, 바카라사이트 increase in private financing has not led to a decline in public expenditure on tertiary education, which increased by 17 per cent over 바카라사이트 same period."

Elsewhere, 바카라사이트 report finds that demand for graduates in 바카라사이트 UK labour market continues to grow.

During 바카라사이트 recession, 바카라사이트 average employment rate of tertiary-educated individuals increased by 0.1 percentage points, 바카라사이트 report says, while among individuals with lower levels of education, it decreased by 3.3 percentage points.

Tertiary graduates also each generated an extra ?55,000 for 바카라사이트 UK economy, by paying higher income tax and social contributions - more than compensating for 바카라사이트 public cost of 바카라사이트ir education.

"Large advantages continue to accrue to both individuals and 바카라사이트 public from higher levels of education," 바카라사이트 report says.

Sally Hunt, general secretary of 바카라사이트 University and College Union, said 바카라사이트 report demonstrated that investment in education "pays for itself many times over".

"The government urgently needs a growth plan for our country, which places investment in education at its heart. Giving people 바카라사이트 skills to earn more and participate in society is key to getting Britain back on 바카라사이트 road to prosperity," she said.

chris.parr@tsleducation.com