November 2009/43
Guide

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Investing for successful futures
A guide to HEFCE

This guide gives an overview of the work of the Higher Education Funding Council for England. We hope it will be useful to anyone who wants to know more about our work.

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Foreword by Tim Melville-Ross CBE

Chair

HEFCE has a key role to play in promoting high-quality, cost-effective teaching and research to meet the needs of students, the economy and society.

We are the principal public funder of a higher education system that stands out as a national and international success story amid today’s economic uncertainties and challenges.

The Government – most recently through its framework 'Higher ambitions – the future of universities in a knowledge economy' – has recognised that universities and colleges are essential to the country’s economic and social success and the vitality of its intellectual and cultural life. Our role is to help realise this vision by investing wisely in high-level knowledge, skills and innovation.

Higher education today is being brought to a more diverse student body. We are strongly supporting the increasingly close relationship between universities and business. Much of the country's research is world-class. With 1 per cent of the world's population, the UK achieved 12 per cent of the world’s scientific citations. It is essential that we build on these successes. The increased levels of public investment achieved over recent years need to be sustained, accompanied by higher levels of private investment.

The short-term priority is to enable higher education to become a fundamental part of the solution to the economic challenges facing the country. The longer-term goal is to enable universities to maintain their international competitiveness while supporting the policy of widening participation so that they can continue to make a growing contribution to the development of an economically and socially successful society.

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Introduction by Sir Alan Langlands

Chief Executive

The total turnover of higher education institutions in England is more than £20 billion.

We are by far the largest single funder of higher education and research. The greater part of our allocations is distributed as 'block grant', which gives universities and colleges the discretion to spend according to their own priorities. This underpins the autonomy and diversity of institutions, widely regarded as the major strengths of higher education.

HEFCE is an advocate and supporter of all that is good and distinctive in higher education.

We work closely with universities, colleges and other partners to achieve excellence and impact in education and research and to provide opportunities for those who have the ability to benefit from higher education. Our responsibilities are to develop policies, distribute funds, safeguard quality and assure the proper stewardship of public money. We also provide advice to the Secretary of State for Business, Innovation and Skills.

HEFCE will continue to work hard with universities, colleges and Government to widen opportunities and to ensure the quality of teaching continues to be trusted and achieves internationally respected standards. We will support universities in delivering the knowledge and high-level skills required to help the professions, businesses and public services to innovate and prosper. We will also continue to promote research excellence across a wide range of academic disciplines.

Through these activities and our support, universities and colleges will continue to be a powerful force in achieving the country's twin aims of a vibrant knowledge economy and a just society.