To a radical degree: Reshaping the UK’s higher education for the post-pandemic world
The Covid-19 pandemic has been a huge shock for the UK economy and for all of its sectors. Some have actually benefitted but for most it has been negative to both the demand/revenue and supply side. The scale of the impact and damage is only now becoming visible. In many cases the pandemic has revealed which sectors and companies were already in trouble or facing long-term decline. Universities and higher education are a case in point. Universities across the UK have seen a sharp fall in income as overseas students have been unable to arrive and study, and income from other sources over the vacations has vanished. The impact of this interruption to income and disruption of cash flow is all the greater because many institutions were already in a weak financial position with big operating deficits and heavy borrowing. The University of Edinburgh is one of several to have announced a large deficit and others will surely follow. The whole of this academic year has been disrupted with an impact on income from students. Quite apart from that, this disruption will have had a big impact on student attitudes and the way they evaluate their experience, and will also have affected the outlook of prospective future students
Online Resource details
Websites:
https://iea.org.uk/wp-content/uploads/2020/08/To-A-Radical-Degree.pdf
Publisher: Institute of Economic Affairs
Keywords: University and college - Finance - Educational courses - Education, training and careers - covid-19
Countries: UK -
Organisation: Institute of Economic Affairs
