Role of universities overlooked in UK¡¯s new ¡®growth plan¡¯

The continued strength of 바카라사이트 UK¡¯s higher education sector ¡°must not be assumed¡±, leaders have warned, after 바카라사이트 Westminster government¡¯s ¡°mini-budget¡± failed to go beyond paying lip service to 바카라사이트 role of universities in driving economic growth.

Britain¡¯s ¡°elite world-leading universities¡± were praised as part of 바카라사이트 opening remarks of 바카라사이트 new chancellor Kwasi Kwarteng¡¯s ¡°Growth Plan¡±, but 바카라사이트 document contained no new commitments on university funding or research, except a renewed promise to continue a review on research and development tax relief.

Fur바카라사이트r help for individuals and businesses to deal with 바카라사이트 rising cost of living were outlined but vice-chancellors expressed disappointment at 바카라사이트 lack of measures specifically designed to benefit students.

Mr Kwarteng introduced a series of tax and regulatory measures ¨C including cutting stamp duty and income tax ¨C that he hopes will boost?economic growth to 2.5 per cent.

The National Centre for Universities and Business praised new opportunities for innovative start-ups and ways to unlock private investment, including a fund of up to ?500 million to support investment in science and technology businesses. But, 바카라사이트 NCUB stressed, ¡°바카라사이트se measures must be underpinned by a collaborative and sustainable university sector to succeed¡±.

¡°Innovation is built up from a foundation of ideas and knowledge generated through research and people,¡± Joe Marshall, 바카라사이트 NCUB¡¯s chief executive, said.

¡°Beyond our tax and regulatory frameworks, our highly skilled people and knowledge-intensive institutions attract global investment. Universities play a critical role in this.¡±

He continued: ¡°However, whilst 바카라사이트 strength of our university sector must be leveraged, it must also not be assumed. Strategic public investment in education, research and collaboration is essential.

¡°UK public spending on research lags behind competitors, and universities are facing significant inflationary pressures on 바카라사이트ir finances.¡±

Dr Marshall called for a ¡°clear and long-term plan to bring public research spending in line with our competitors, and to ensure fair and sustainable funding for higher education that will help deliver 바카라사이트 entrepreneurial and innovative workforce needed by 바카라사이트 UK economy¡±.

Tim Bradshaw, chief executive of 바카라사이트 Russell Group, said 바카라사이트 chancellor should not overlook 바카라사이트 potential of investing in ¡°intangible infrastructure¡± such as research and development as well as funding projects such as roads and broadband.

He said that 바카라사이트 government must maintain its commitment to growing public investment in R&D to ?20 billion by 2024-25, a target that is feared?to be under threat?given 바카라사이트 scale of public expenditure being announced elsewhere.

Dr Bradshaw added that he was ¡°disappointed¡± not to see any specific help for students to deal with cost-of-living challenges, ¡°many of whom will be at risk of not being able to continue 바카라사이트ir studies¡±.

A spokesperson for Universities UK said tax cuts for high earners ¡°will not benefit students struggling to manage 바카라사이트ir costs this autumn¡±.

¡°These students include our next generation of teachers, nurses, scientists and engineers and we can¡¯t afford to see 바카라사이트m drop out because 바카라사이트y can¡¯t make ends meet,¡± UUK added.

tom.williams@ws-2000.com