million+ responds to the Budget 2016 statement

The university think-tank million+ has today (16 March) responded to the Budget statement by Chancellor of the Exchequer George Osborne, welcoming new loan arrangements for doctoral and postgraduate students while expressing disappointment at the level of capital expenditure at the Department for Business, Innovation and Skills (BIS).

Pam Tatlow, Chief Executive of the university think-tank million+ said:

“We welcome the introduction of a loan scheme for doctoral students from 2018/19 and the extension of postgraduate loans to masters' students studying for three years. The continuous professional development of people is key to innovation in the modern workplace and the Treasury and BIS should ensure that loans are available to students studying for a wider range of postgraduate qualifications part-time, including the postgraduate diploma.

“Universities will have to foot the bill for increased employer contributions to public sector pension schemes and it remains disappointing that the overall reduction in capital expenditure in the BIS budget remains in place until 2020. While some capital expenditure is being brought forward, the uncertainty in global financial markets, means that this would have been an ideal time for the government to do more to stimulate growth. Increasing capital investment in universities would have been a pretty safe bet and would have brought wider benefits to the economy and students.”

ENDS

Notes to Editors

1. For further information or to arrange an interview, contact Dan Blows on 020 7717 1658 | 07527 336795 or press@millionplus.ac.uk
2. million+ is a leading university think-tank. More information can be found at www.millionplus.ac.uk
3. The complete Budget 2016 documents can be found here.