MillionPlus responds to the Autumn Budget statement

MillionPlus, the Association for Modern Universities, has today (30 October) responded to the announcements delivered by the Chancellor of Exchequer, Rachel Reeves, in her Autumn budget statement.

Rachel Hewitt, Chief Executive of MillionPlus, said:

“MillionPlus is disappointed by the absence of any measures within the Chancellor’s first Budget to address the unprecedented funding pressures universities are facing or the historic cost-of-living challenges faced by students. Furthermore, today’s rise in employer national insurance contributions will come as yet another blow to an already financially fraught higher education sector.

“Analysis from Universities UK has shown a 1% increase could potentially cost the sector £130m. This is against a backdrop of redundancy schemes across dozens of institutions, with increasing numbers of courses and departments at risk of closure up and down the country, and on top of modern universities being hit by significant increases in pensions costs in the last year.

“The government has been clear that their key mission is to drive up growth across the regions through their industrial strategy and we are committed to working with the government to deliver on their ambitious vision. Modern universities are pivotal to the success of this mission, acting as critical pipelines of talent for both business and public services across the length and breadth of the UK. Yet they can only continue to play this role if it is underpinned by a sustainable funding system.

“We urge the government to work with MillionPlus and our members ahead of the Spending Review to establish a package of measures that can place our funding system on a sustainable footing, while ensuring the continued provision and delivery of key subject areas which will turbocharge economic growth and innovation.”

ENDS

Notes to editors

• For further information or to arrange an interview, please contact Rachel Hewitt on 07795645241 or email ceo@millionplus.ac.uk.
• MillionPlus is the Association for Modern Universities in the UK, and the voice of 21st century higher education. We champion, promote and raise awareness of the essential role and impact of modern universities in the UK’s world-leading higher education sector. More information can be found at www.millionplus.ac.uk
• What are modern universities? Modern universities are long established centres of higher education in their communities with roots that stretch back decades, if not centuries. Many gained university title following legislation agreed by parliament in 1992. They make up almost half of the UK university sector with over a million students studying at modern universities every year.
• Think Modern: Innovation, ingenuity and inclusion from Britain's modern universities - FACTS AND STATS