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HEFCE Chair, Tim Melville-Ross, said:

'This year's grant announcement is more challenging than in recent years. We shall do all we can to ensure that we continue investing wisely in high-quality learning and teaching, skills, excellent research, and knowledge transfer activities. We shall be considering the implications of the letter at the Board meetings on 28 January and 4 March in preparation for the announcement of the recurrent grant to universities and colleges on 17 March.'