Universities highlight ‘vast’ contribution to northern economy
Northern universities contribute £ 23.6 billion to the region’s economy and support 192,000 jobs, new research shows.
Frontier Economics’ study for UK universities comes as universities grapple with funding reform and sees the sector point the finger at the tens of thousands of direct jobs it provides, as well as its other contributions to education. ‘economy.
In addition to training graduates for high-level jobs, universities point out that they attract significant numbers of foreign students to spend in local economies.
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In a pre-contribution to the Comprehensive Review of Government Spending, Universities UK called for sustainable funding for student studies and for the government to maintain the UK’s position as a world leader in research.
They also want to expand the number of people who can benefit from higher education with a right to a lifetime loan and targeted funding for sectors of the economy where skills shortages are most pressing.
Professor Steve West, President of Universities UK, said: “Universities have been celebrated for being at the heart of the fight against the coronavirus, but it is also important to recognize the livelihoods they support by creating and supporting jobs and businesses across the country.
“The economic and cultural contribution of our universities is vast and benefits communities across the UK. Universities can play a central role in accelerating the UK’s recovery from the pandemic.
“The time has come for the government to capitalize on the strength of our world-class universities, working with us to ensure that universities have the right funding environment to drive economic growth, create new jobs and improve opportunities for people of all ages and backgrounds. “
A major overhaul of the higher education system is expected to be announced shortly after the Augur overhaul of the sector.
It has been reported that the government is looking to cut funding for arts degrees and is also considering lowering the threshold at which people repay their student loans.