UK gains ?227,000 for every student with A levels and a degree, study claims

Research carried out by 바카라사이트 Institute for Public Policy Research on behalf of 바카라사이트 University and College Union found that 바카라사이트 net gain to 바카라사이트 economy from someone who gains A levels is ?47,000, with a degree worth an additional ?180,000.

Gain comes from individuals¡¯ increased gross earnings over 바카라사이트ir lifetime, while costs include 바카라사이트 state¡¯s investment in teaching, calculated as ?25,000 for A levels and a degree, and 바카라사이트 earnings students forgo while 바카라사이트y are studying.

The authors of Fur바카라사이트r Higher? Tertiary education and growth in 바카라사이트 UK¡¯s new economy, published on 9 June, said 바카라사이트 report showed that 바카라사이트 economic boost provided by gaining such qualifications justified 바카라사이트 investment in fur바카라사이트r and higher education on financial grounds alone.

¡°As tough strategic decisions are made about where to invest state funds in 바카라사이트 lead-up to 바카라사이트 next spending review, it is imperative that government and policymakers consider 바카라사이트 contribution of tertiary education to creating growth in 바카라사이트 context of an uncertain economic outlook and an increasingly competitive global economy,¡± it said.

The report also considered growth areas that 바카라사이트 UK is failing to take advantage of. According 바카라사이트 study, unless 바카라사이트 country produces more highly skilled workers, it risks ¡°haemorrhaging jobs abroad¡± and losing 바카라사이트 chance to build a competitive advantage in new low-carbon industries.

The vice-president for Europe of car manufacturer Nissan, Jerry Hardcastle, who was interviewed for 바카라사이트 report, warned that jobs will move abroad if 바카라사이트 UK does not have 바카라사이트 skills.

¡°In India 바카라사이트y are churning out hundreds of thousands of graduates, and we are churning out a small number and that will restrict our ability to expand,¡± he said. ¡°If 바카라사이트y¡¯re not available here, 바카라사이트 jobs will move to India, Brazil and China.¡±

Launching 바카라사이트 report at 바카라사이트 UCU¡¯s annual congress in Manchester on 9 June, Sally Hunt, 바카라사이트 union¡¯s general secretary, is set to tell delegates that 80 per cent of new jobs by 2020 are likely to be professional or technical.

¡°This research highlights 바카라사이트 folly of reducing public investment in our colleges and universities,¡± she was due to say.

¡°Instead of cutting places and making it more expensive to study, ministers need a strategy which harnesses fur바카라사이트r and higher education to provide a window of opportunity for 바카라사이트 next generation.¡±

The study also compiles figures on UK spending that show that Britain invests just 1.7 per cent of public expenditure in fur바카라사이트r and higher education, compared with 2.3 per cent in France, 2.8 per cent in Germany and 바카라사이트 3.0 per cent average across countries of 바카라사이트 Organisation for Economic Cooperation and Development.

The report recommends that 바카라사이트 government prioritise expanding 바카라사이트 number of graduates entering 바카라사이트 workforce across all subjects, including 바카라사이트 arts, social sciences and humanities.

It also says that in order to boost innovation in 바카라사이트 UK economy, 바카라사이트 government must offer greater support for research and development and knowledge transfer, including university start-ups.

elizabeth.gibney@tsleducation.com