CBI – Value for money in Higher Education

The Education Committee has today (8 Dec) published the written evidence for its inquiry into value for money in higher education.

The written evidence from Confederation of British Industry (CBI) can be found below:

The CBI is the UK’s leading business organisation, speaking for some 190,000 businesses that together employ around a third of the private sector workforce. We work with policymakers to deliver a healthy environment for businesses to succeed, create jobs and ultimately, drive economic growth and prosperity. The CBI welcomes the opportunity to respond to this inquiry.

The UK’s higher education sector is a key national asset. Our universities play a vital role in ensuring the future success of our country – whether that’s as anchors within their local communities helping to boost regional growth, underpinning the economy through the breadth of their courses, at the cutting edge of new teaching and research methods, or in expanding our links abroad – the sector’s strength lies in its diversity.

Developing our education and skills base is one of the most effective strategies for growth the UK can have and businesses recognise the vital role that universities play in helping to ensure the country is equipped with the talent necessary to seize future opportunities.

Given the importance of the sector to future economic and social prosperity, it is right that the government ensures that the higher education system represents value for money.

To do this successfully, CBI makes the following recommendations:

• Keep higher education funding independent and sustainable through an income-contingent fee and loan system

• Use appropriately benchmarked and contextualised performance data, including via the TEF. to clearly communicate the value of different courses

• Enhance the diversity of provision within higher education so that it is responsive to the needs of both students and employers