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AT LEAST a dozen universities in Britain are facing a “very real prospect” of insolvency without a government bailout amid the Covid-19 crisis, according to research released yesterday.
The Institute for Fiscal Studies (IFS) study suggests that around 13 of the most at-risk institutions may need debt restructuring or a “very targeted bailout” worth up to £140 million to keep them afloat in the future.
These institutions may not be viable in the long run if they are left without financial support and could end up using up all their reserves by 2024, it adds.
Cuts are sweeping campuses as cash-strapped universities slash staff and politicians fail to act on a growing funding emergency. VINCE MILLS reports
JACK DAVIDSON explains the motivation behind the UCU strike action at the University of Sheffield
