The Government’s Spending Cuts won’t hit us as hard as others
But don’t let that fool you supposing that they are insignificant
By the time that George Osborne stood to deliver the Spending Review at the Dispatch Box in the House of Commons, scientists at Imperial and around the UK had already breathed a sigh of relief. Although funding is still being cut by 10%, U.K. research has escaped the catastrophic 25% cuts that had been threatened. But we at Imperial, in our ivory towers in South Kensington, should not forget that other subjects and other universities are being hit hard; we are the lucky ones.
Scientific research is being spared (in this perverse world, a 10% cut is salvation) because the government has recognised, as well they should, that cutting investment in research is like shooting yourself in the foot. It does more to damage economic recovery than to promote it. However our investment in R&D is still far behind our global competitors. For what can only reasons of political expediency (because it defies all logic) we are cutting at a time when other developed countries are boosting research funding. Imperial’s global reputation, solid financial position and willingness to take hard-nosed decisions (see the Life Sciences re-structure) will mean that it will retain its position as a globally-competitive research institution. But be in no doubt, research in the UK in general will suffer heavily as a result of the government’s plans.
In this perverse world, a 10% cut is salvation
In teaching also, we should consider ourselves blessed. The government has set out a massive contraction in university funding. Humanities and other non-STEM (Science, Technology, Engineering and Medicine) subjects will struggle with the coalition’s 79% cuts. Imperial is one of the few universities that will be able to shake off this attack with relatively few scars. Our international reputation means that we will always be able to attract international students who boost universities’ coffers with the high fees that they pay. In addition we will be able to charge higher home fees if the cap on tuition fees is lifted which, again, will help to offset losses from government funding. Imperial, which rejects the majority of its applicants already, will not need to worry about deterring home students with higher fees. Finally, the fact that we are a STEM institution means that the losses in government funding will be small in comparison to other institutions.
But although you will not experience the full impact of the Government’s cuts, don’t let that fool you supposing that they are insignificant.
