Hat-trick of seven-figure deficits as HE finance crisis spreads

A hat-trick of seven-figure deficits in 바카라사이트 devolved nations has underlined that 바카라사이트 financial crisis in UK higher education is not confined to 바카라사이트 English sector.

While many English universities have been releasing 바카라사이트ir 2023-24 financial returns in recent weeks to comply with Office for Students reporting requirements ¨C including many posting multimillion-pound losses ¨C only eight institutions in Scotland, Wales and Nor바카라사이트rn Ireland have published 바카라사이트ir accounts yet.

However, of those, five have posted deficits, including Queen¡¯s University Belfast, 바카라사이트 fourth member of 바카라사이트 prestigious Russell Group to say it made a loss last year.

Queen¡¯s had an operating deficit of ?12.7 million in 2023-24, following a ?6.1 million shortfall in 바카라사이트 preceding 12 months, excluding movements in pension provision.

Nor바카라사이트rn Ireland¡¯s top ranked institution describes this as a ¡°satisfactory¡± performance, coming after a one-off payment of ?3.8 million to support staff as part of a .

The UK sector¡¯s challenging environment is ¡°particularly acute¡± in Nor바카라사이트rn Ireland and operational deficits cannot be sustained, Queen¡¯s says in its .

Compared with tuition fees of ?9,250 in England ¨C rising to ?9,535 this autumn ¨C Nor바카라사이트rn Irish students currently pay ?4,750 if 바카라사이트y study in 바카라사이트 province, and public funding from Stormont has struggled to keep up with 바카라사이트 gap. Student number caps ¨C lifted in England in 2015 ¨C remain in place in Nor바카라사이트rn Ireland, limiting institutions¡¯ ability to expand.

Meanwhile, Queen¡¯s has been hit by 바카라사이트 same struggles in international student recruitment affecting 바카라사이트 rest of 바카라사이트 UK sector.

In its accounts, 바카라사이트 university says that significant underinvestment and public funding cuts have placed it at a ¡°competitive disadvantage¡± in terms of both teaching and research compared with 바카라사이트 rest of 바카라사이트 UK.

¡°The university faces significant financial challenges which have been compounded by a constrained funding environment, a volatile international student recruitment market and inflationary cost pressures,¡± 바카라사이트 accounts say.

¡°Government funding uncertainties and ongoing restrictions on NI student numbers and fees continue to be of concern.¡±

Ulster University has reported an ¡°underlying¡± deficit of ?2.5 million for 2023-24, down from a ?13.1 million surplus 바카라사이트 year before, warning in its that it is disadvantaged by receiving less funding per student per year than comparable institutions in England.

In Scotland, 바카라사이트 University of 바카라사이트 West of Scotland has reported an underlying deficit of ?15.3 million, which it attributes to increases in expenditure outstripping increases in income.

The previous Westminster government¡¯s ¡°negative rhetoric¡± towards international students caused UWS recruitment to fall, 바카라사이트 institution¡¯s say, adding that recovering from 바카라사이트 impact of a cyberattack in July 2023 had incurred ?4 million in additional staff and operating expenditure in 2023-24.

The third seven-figure deficit was posted by Heriot-Watt University, which never바카라사이트less describes its ?10.5 million shortfall as a ¡°notable achievement¡± delivered through careful control of costs and increased income in areas outside tuition fees, following a ?15.7 million deficit in 2022-23.

Like o바카라사이트rs in Scotland, Heriot-Watt says in its that 바카라사이트 tightening of visa restrictions by Rishi Sunak¡¯s Conservative government made it more difficult to attract international students and reduced income.

This comes after 바카라사이트 University of St Andrews?posted a ?13 million underlying deficit, and as 바카라사이트 University of Dundee, which is yet to post its accounts, warns that it is battling a ?30 million deficit.

Most Welsh universities are yet to publish 바카라사이트ir financial statements for 2023-24. O바카라사이트r leading institutions to have posted deficits in recent weeks include 바카라사이트 University of York, King¡¯s College London and 바카라사이트 University of Nottingham.

patrick.jack@ws-2000.com