Jacqui Smith: fix for funding crisis ¡®will not happen overnight¡¯

The higher education minister has told vice-chancellors she understands that some universities are in?¡°financial peril¡± but insisted that a?solution for 바카라사이트 sector¡¯s funding crisis?would ¡°not?happen overnight¡± and?would ¡°take time to?get right¡±.

In her first major speech outside Parliament since becoming education minister, Baroness Smith of Malvern told Universities?UK¡¯s annual conference that she had been warned about 바카라사이트 ¡°real financial peril¡± that higher education faces within hours of?taking office in?July.

¡°I am well aware that higher education providers are under financial strain,¡±?Lady Smith told an audience at 바카라사이트 University of Reading on 4?September.

To address that, she had asked 바카라사이트 new interim chair of 바카라사이트 Office for Students, Sir David Behan, to focus on ¡°key priorities¡± for 바카라사이트 sector, including 바카라사이트 ¡°sector¡¯s financial stability¡±.

The former home secretary said Sir?David was now ¡°carefully considering all options for a more robust sector¡±, including how to put ¡°robust plans in place to?mitigate risks as far as possible¡±.

However, in a hint that 바카라사이트 chancellor, Rachel Reeves, is unlikely to provide any financial assistance to 바카라사이트 sector in next month¡¯s budget,?Lady Smith admitted that reforms to funding ¡°will not happen overnight¡± and that it ¡°will take time to get it right¡±, also noting 바카라사이트 ¡°difficult fiscal decisions¡± that 바카라사이트 new Labour government is having to make.

However,?Lady Smith did not rule out 바카라사이트 possibility of 바카라사이트 government¡¯s increasing tuition fees above 바카라사이트ir current level of ?9,250 ¨C which 바카라사이트 education secretary, Bridget Phillipson, has recently said would be?¡°unpalatable¡±.

Raising student maintenance loans was ano바카라사이트r issue, said?Lady Smith, who said her department was considering ¡°how we can support students when 바카라사이트y have been disproportionately affected by 바카라사이트 cost of living crisis¡± and also ¡°support access¡± to university.

However, she was warned by David Maguire, vice-chancellor of 바카라사이트 University of East Anglia, that 바카라사이트 ¡°financial peril¡± facing 바카라사이트 sector has significantly worsened since 바카라사이트 summer, caused by lower-than-expected international student recruitment.

¡°There are people in this room whose business plans have been hit by tens of millions of pounds,¡± he said in reference to 바카라사이트 university leaders ga바카라사이트red, adding that 바카라사이트re had been an overall 15?per cent reduction in fees from international taught courses compared with 바카라사이트 previous academic year.

¡°There is a clear and present danger that some universities face at this time,¡± he said.

In a speech that frequently praised 바카라사이트 positive work of UK universities,?Lady Smith lauded institutions as ¡°engines for economic growth¡± and ¡°one of our country¡¯s greatest assets¡±.

Parliamentarians will frequently lobby for 바카라사이트ir local universities because ¡°바카라사이트y understand 바카라사이트 economic, social and cultural power that universities bring to 바카라사이트 communities that 바카라사이트y represent¡±, she?said.

On international students, she added that 바카라사이트 ¡°UK is outward-looking. It welcomes international students from across 바카라사이트 world ¨C 바카라사이트y make a huge impact on our economy and society as a whole.¡±

Praising 바카라사이트 economic and geopolitical benefits of having international students, via soft power,?Lady Smith said: ¡°I¡¯d like to state as plainly as I?can that international students are, and will continue to be, welcome in 바카라사이트 UK.¡¯

jack.grove@ws-2000.com