Universities in the North contribute £23.6bn to the area’s economy and support 192,000 jobs, new research has found.
The study by Frontier Economics for Universities UK comes as universities face reform to their funding and sees the sector pointing to the tens of thousands of direct jobs it provides, as well as its other contributions to the economy.
As well as training graduates for high-level jobs, universities point out that they attract a substantial number of foreign students to spend in local economies.
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In a contribution ahead of the Government’s Comprehensive Spending Review, Universities UK have called for sustainable funding for students’ educations, and for the Government to maintain the UK’s position as a global research leader.
They also want to extend the number of people who can benefit from higher education with a lifelong loan entitlement and targeted funding for sectors of the economy where skills gaps are the most pressing.
Prof Steve West, president of Universities UK, said: “Universities have been celebrated for being front and centre in the fight against coronavirus, but it is also important to recognise the livelihoods they support through creating and supporting jobs and businesses across the country.
“The economic and cultural contribution of our universities is vast and benefits communities across all parts of the UK. Universities can be central to speeding up the UK’s recovery from the pandemic.
“Now is the time for government to capitalise on the strength of our world-class universities, working with us to ensure 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 review of the higher education system is expected to be announced soon after the Augur review of the sector.
It has been reported that the Government is looking to cut funding for arts degrees, and is also looking at lowering the threshhold at which people pay back student loans.
