Universities at the heart of the Industrial Strategy

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12 April 2018

The Industrial Strategy is focused on the twin aims of boosting productivity and ensuring this prosperity is shared across the UK. Our universities have a key role to play in both these areas:

Sharing prosperity across the UK: Russell Group universities are located across the whole of the UK, supporting 261,000 jobs and acting as strategic assets around which advances in research and future business growth can be catalysed to create jobs, improve productivity and enhance prosperity.[1] Our universities invest significantly in their local communities, investing £9bn of their own resources into major capital projects between 2012/12 and 2016/17. The University of Glasgow for example is investing £1bn in transforming the west end of Glasgow, creating world-class research and learning facilities, as well as bringing up to 3,000 new jobs to the city.

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Research, innovation and productivity growth: World-class research at Russell Group universities in 2015/16 generated £34.1 billion for the UK economy. In addition, our universities work with over 20,000 SMEs a year, providing them with the tools to realise real productivity gains, the research and commercialisation expertise to deliver new products and services, and skills training to upskill the current workforce.

Our universities will play an integral role across all 5 key themes of the Industrial Strategy.

Universities at the heart of the Industrial Strategy

The Industrial Strategy is focused on the twin aims of boosting productivity and ensuring this prosperity is shared across the UK.

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[1] References to the economic impact of Russell Group universities draw on analysis produced by London Economics in November 2017: http://www.russellgroup.ac.uk/news/economic-impact-of-russell-group-universities/