April 2023
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This conference examined priorities and next steps for bolstering the financial stability, resilience and sustainability of the UK higher education sector.
Areas for discussion included:
- what is needed from regulators and government to develop a supportive regulatory framework, and provide clarity on the conditions for intervention and support
- the future of policy for international students, and the mix of university income sources
- improving the understanding and modelling of financial pressures going forward, looking at data collection and analysis, and use of financial models by providers and the OfS
- next steps for providers in building resilience to future shocks, diversifying income streams, and planning for disruption and increased competition in student markets
- what can be learned from the sector’s response to the pandemic
It came as UUK announced a ‘national conversation’ on the future of higher education funding, and followed reports from OfS and NAO, and an inquiry from the Public Accounts Committee, which focused on the financial position of UK higher education. Among issues highlighted are the increasing pressures and risks for the sector, and weaknesses with current regulation and support for providers.
Overall, sessions in the agenda included:
- UK university finances and priorities: changing pressures on the sector - impact on finances - improving data collection - assessing spending and service performance
- effective response to the challenges: assessment of risks - priorities for funding and support - key issues for regulation and implications - assessing risks, tolerance and intervention criteria
- strategic priorities: self-assessment among providers - planning for future disruption and market shock - income stream diversification - improving approaches to managing financial risks
- long-term resilience: priorities for policy - strategies to reduce dependence on international students - building on core purposes and advantages of diversifying income streams
We are pleased to have been able to include keynote sessions with Professor Jenny Higham, Vice-Chancellor, St George’s University of London; and Board Policy Lead for Funding, Universities UK; Ashley McDougall, Director, Local Service Delivery and Value for Money, National Audit Office; and Roberta Malee Bassett, Global Lead for Tertiary Education and Senior Education Specialist, the World Bank.
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from; DBT; DfE; Department for the Economy; Department for Education, NI; Department of Finance, NI; Home Office; House of Commons Library; The Scottish Government; and the Welsh Government - as well as parliamentary pass-holders from The House of Commons.
