Higher Education: Finance

Innovation, Universities and Skills written question – answered on 24th July 2007.

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Photo of Boris Johnson Boris Johnson Shadow Minister, Innovation, Universities and Skills

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.

Photo of Bill Rammell Bill Rammell Minister of State (Lifelong Learning, Further and Higher Education), Department for Innovation, Universities and Skills

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.

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