Press release

Universities and Productivity – million+ submission to HM Treasury Spending Review 2015

24 Sep 2015

The university think-tank million+ has published its submission to the Treasury’s Spending Review 2015. The submission sets out a series of specific measures to ensure that universities, employers, small businesses and individuals can respond to the government’s productivity agenda.

Professor Dave Phoenix, Vice-Chancellor, London South Bank University and Chair of million+ said :

“The switch from maintenance grants to loans in 2016 will save £2.5bn by 2020/21 and this must be off-set against the challenging targets to deliver efficiency savings that have been set for BIS by the Treasury.

“The Spending Review is more than a simplistic exercise in budget reduction. It is also about delivering the productivity plan and needs new ideas and new thinking.

“The million+ submission provides this and offers a strong platform for the Treasury, BIS and other departments to work with universities to step up to the productivity challenge and deliver the Prime Minister’s goal of extending access to Britain’s world-class university system.”

The million+ submission calls for:

•        a new stream of funding for translational research
•        a scholarship tax credit scheme for small and medium sized business to support employer and employee access to higher education qualifications
•        new and more flexible funding regimes to address failures in the part-time and mature student markets
•        enhanced investment in the student opportunity allocation to help deliver government targets for access and equity of attainment
•        a new education engagement fund as part of the roll-out of broadband
•        a stable and impartial visa regime for international students to support the government goal of increasing educational exports to £27bn per year by 2025
•        enhanced investment in the education of the health and social care workforce to meet government plans for 7 day working and the integration of services


Notes to Editors

1. For further information or to arrange an interview, please contact Pam Tatlow on 020 7717 1658 or email
2. million+ is a leading university think-tank. More information can be found at
3. The submission is available on the million+ website.