Higher Education: Finance
Innovation, Universities and Skills
Boris Johnson (Shadow Minister, Innovation, Universities and Skills; Henley, Conservative)
To ask the Secretary of State for Innovation, Universities and Skills what estimate he has made of the number and proportion of universities with a (a) financial deficit, (b) diminishing budget surplus and (c) risk of insolvency.
Bill Rammell (Minister of State (Lifelong Learning, Further and Higher Education), Department for Innovation, Universities and Skills; Harlow, Labour)
There are no universities at imminent risk of insolvency, although six institutions were judged by the Higher Education Funding Council for England to be "at higher risk" in March 2007 and are being supported by the council. Higher education institutions will also be able to draw on new funding streams we have introduced such as income from variable tuition fees and voluntary giving to strengthen their financial position, and the number of institutions with historical cost deficits is forecast to fall from 14 per cent. now to 5 per cent. in 2010.