“Universities are sitting on large cash reserves and could cope with a cut in the funding they receive from government, according to a think tank with close links to the Conservative party.
“Policy Exchange, which was set up by Tory modernisers led by Michael Gove, called on ministers to strip more than £500 million in annual funding from universities and instead give it to technical colleges.
“They should use it to expand high-level technical and professional courses and so help to improve Britain’s productivity, a report by the think tank says.”
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Jonathan Simons
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Higher, Further, Faster, More: Improving higher level professional and technical education
Higher, Further, Faster, More calls for BIS to redirect up to £532m of the Higher Education Funding Council (HEFCE) grant to improve the quality of Further Education. Whilst acknowledging the importance of our Higher Education sector, the report points out that universities are sitting on reserves of £12.3bn at a time when 1 in 4 FE colleges could effectively go bankrupt within a year.
