Russell Group responds to ONS

17 December 2018

Responding today to the ONS decision on the new treatment of student loans in the public sector finances and national accounts, Dr Tim Bradshaw, Chief Executive of the Russell Group, said:

 “It is right that the Government’s accounting rules are credible, but it’s also important to remember that although today’s ONS decision will make higher education appear more expensive to the taxpayer, the real cost won’t have changed.

 “Ministers may now be tempted to cut university funding because it will look better for the deficit, but good policy shouldn’t be dictated by accounting rules. Universities should be funded sustainably because of the vast social and economic benefits they bring. If this change results in a cut to university funding then it will be students who suffer.”