Commenting on today’s budget announcement, Professor Steve Smith, President of Universities UK said: “Universities UK has continually made a strong case for public investment in higher education, and the Government has now responded to this. We have stressed the critical importance of universities to the UK’s economic recovery, and today’s announcement endorses this by making an additional £270m available to universities in 2010/11 through the Higher Education Modernisation Fund.

“Combined with efficiency savings, this will allow for 20,000 extra undergraduate places, and critically, the Government has also committed to provide full student support costs. These places will be a mix of part-time and full-time undergraduate and foundation provision, reflecting the increasingly diverse student population. The Modernisation Fund will be used to drive efficiencies in the sector, and includes £20m for improving shared services.

“Along with the University Enterprise Capital Fund, this represents additional funding of £305m for higher education; a tremendous outcome for the sector and a sound investment in the UK’s knowledge economy at this crucial time.”

Notes

Today's Budget is available to download