Key points from the article in the Times Higher Education about the spending review effects on research in higher education:

Spending review: what it means for higher education

Some key points to take away from George Osborne’s speech today and the Treasury’s spending review document

  • The headline cut in the Department for Business, Innovation and Skills budget is 17 per cent. This will see the department’s total budget, resource and capital, decline from £16.6 billion this year to £13.2 billion in 2019-20.
  • The current £4.7 billion research budget is being protected in real terms over the spending review period to 2019-20, and will rise by £500 million over that period. It will also include a “new £1.5 billion Global Challenges Fund”.

 

  • The government has confirmed plans to introduce postgraduate loans for 2016-17 and has dropped its plans to restrict these to students aged under 30. Now, anyone under 60 will be eligible.
  • Maintenance loans will be introduced for part-time students in 2018-19, a move that the government says could benefit 150,000 people by 2020.
  • Students wishing to study a second degree will be able to access a tuition fee loan from 2017-18, provided that the course that they wish to study is in science, technology, engineering or mathematics (STEM).

 

  • £165 million of Innovate UK grants will be replaced by loans by 2019-20.

 

Read the full article here