HEFCE has today received a grant letter on funding higher education in England from the Secretary of State for Business, Innovation and Skills for 2011-12 and beyond.
HEFCE Chair, Tim Melville-Ross, said:
'We welcome the recognition by the Government of the huge contribution that higher education makes to this country and the re-affirmation of its commitment to the autonomy of institutions.
'The funding settlement will be a challenging one for universities and colleges in 2011-12 and also in subsequent years for universities, colleges, students and graduates as the new finance and funding arrangements take effect.
'It is good to have clarity over the funding for two years with respect to teaching funding and four years for science and research. We will work with universities and colleges and other partners to ensure that there will be as smooth a transition as possible during 2011-12 to the new arrangements.
'Throughout this period we will focus on the things that really matter - securing the interests of students, excellence in teaching and research and effective knowledge exchange, supporting the growth of a vibrant economy.
'We are keen to take up the Government's invitation to provide advice on the White Paper, including on widening participation.
'The HEFCE Board will consider the implications of the grant letter for spending in the remainder of academic year 2010-11 and the academic year 2011-12 at its next meeting on 28 January 2011. Following the meeting we will set out a clear set of resource allocation principles and decisions. The individual grants to universities and colleges will be announced on 16 March.'
Download grant letter
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