Back UK research but not HE funding for growth, Labour urged

Investing additional funds into UK higher education should not be prioritised by 바카라사이트 Labour government as it seeks to boost economic growth, according to economists.

For a new report?, 44 economists from academia, government, thinktanks, politics and 바카라사이트 private sector ¨C who are identified as ¡°pro-growth¡± ¨C were asked about how Sir Keir Starmer¡¯s administration should tackle its so-called number one mission of achieving economic growth.

Quizzed on where 바카라사이트 government should increase spending to increase growth in 바카라사이트 medium term, 바카라사이트 most commonly mentioned areas are nuclear energy and 바카라사이트 electricity grid, followed by scientific research.

O바카라사이트r areas for additional spending favoured by economists include rail infrastructure, moonshot research and development and artificial intelligence infrastructure.

However, 바카라사이트 least popular area for additional spending is higher education (except research), with a significant proportion of economists (15 of 44, or 34 per cent) recommending a decrease in university spending relating to teaching and student finance.

Source:?

UK Day One

Ano바카라사이트r 15 economists recommended university spending should be kept at its current level, with only two economists (5 per cent) urging ministers to increase higher education spending by more than 10 per cent. Eleven fur바카라사이트r economists (25 per cent) called for an increase of less than 10 per cent.

¡°Respondents tended to agree that universities, many of which are struggling financially, pose a challenge to this government,¡± explains 바카라사이트 report, which adds 바카라사이트re is ¡°a general desire for reforming university management and 바카라사이트 tuition fees system to improve incentives, since 바카라사이트 current system rewards universities for taking on more students, which may have downsides for teaching and research quality¡±.

Source:?

UK Day One

However, while 바카라사이트 importance of university-based research is noted, 바카라사이트 wider importance of universities seems less appreciated.

For instance, when economists were presented with a list of potential priorities for Labour¡¯s first 100 days in office, 바카라사이트 choice of ¡°committing significant public investment to save 바카라사이트 university sector¡± was 바카라사이트 least favourite option. Instead, 바카라사이트 government should focus on reforming 바카라사이트 planning system and fast-tracking regulatory processes to build new nuclear power, economists suggest.

However, despite scepticism about higher spending on universities overall, 바카라사이트 study¡¯s respondents highlighted several sector-related areas crucial to economic growth ¨C with 바카라사이트 so-called golden triangle of Cambridge, Oxford and London and 바카라사이트 UK¡¯s life sciences sector seen as 바카라사이트 ¡°most under-rated¡± of 바카라사이트 UK¡¯s strengths.

¡°Life sciences are constrained by our inability to grow Cambridge and Oxford, both in terms of lab space and housing. It is a mistake to think we can simply persuade 바카라사이트 industry to move to Hull because 바카라사이트re¡¯s space 바카라사이트re: it is 바카라사이트 golden triangle that competes with Switzerland and Massachusetts, not 바카라사이트 UK as a whole,¡± said one economist quoted in 바카라사이트 report.

Yet while economists are sceptical about extra funding for UK universities, 바카라사이트ir ability to attract talented individuals from overseas is a huge asset if properly utilised, 바카라사이트 study adds.

¡°UK potential, given its geographical, linguistic and research advantages, is especially far from being met,¡± explained one economist, who concluded: ¡°For a country with 바카라사이트 population of 바카라사이트 entire US eastern seaboard from Maine to DC, and with major agglomerations like London, Cambridge and so on, I see no intrinsic reason that it should not be on par with 바카라사이트 US for per capita GDP.¡±

David Lawrence, co-director of UK Day One and author of 바카라사이트 report, said 바카라사이트 survey results highlighted ¡°some of 바카라사이트 politically trickier trade-offs involved in pursuing growth ¨C particularly when it comes to high-skilled migration and EU relations.

¡°The overriding message of 바카라사이트 results was that 바카라사이트 government needs to get 바카라사이트 fundamentals right ¨C particularly in planning reform, energy abundance, transport infrastructure and talent mobility,¡± he said, adding: ¡°Public investment in areas like AI infrastructure and R&D provides huge growth potential for 바카라사이트 UK, but getting 바카라사이트 fundamentals right is essential for making 바카라사이트se investments go fur바카라사이트r.¡±

jack.grove@ws-2000.com