The recognition of the excellence of the UK’s university research and knowledge exchange (KE) base, both domestically and internationally, are reinforced through these funding decisions. As is the crucial role that the UK’s universities have in supporting sustainable economic growth, enhanced productivity and in fulfilling the ambitions of the government’s Science and Technology Framework.
This continued funding commitment enables Research England to foster the vibrant and world-leading research and innovation system that allows us all to reap the benefit of the research and knowledge exchange happening in English universities, and in partnership with others, across the country.
Universities, businesses and local partners
The long-term, performance driven investment in universities in England by Research England provides a stable base for individual research projects as well as fast-moving collaborations between universities, businesses, and local partners.
Today, Research England confirms stable allocations continuing for the spending review period, to deliver research and knowledge exchange for societal and economic benefit locally, nationally and globally.
The Department for Science, Innovation and Technology (DSIT) funding and priorities letter that underpin these funding decisions confirms DSIT endorsement of the priorities we have identified in our strategic delivery plan.
Continued and stable support
Jessica Corner, Executive Chair of Research England said:
Universities are core to an innovation led economy. I am delighted that we have been able to provide continued and stable support to the sector while ensuring a funding environment which supports universities to continue to respond to societal and economic challenges through research and innovation, developing the talent, skills and expertise that are urgently needed and translating discoveries and knowledge for the benefit of society.
Further information
Further details of the allocation are published in the circular letter.
For a more detailed explanation of our funding, what it supports and how it is allocated, see Research England: how we fund higher education providers.
Technical notes
- Our settlement from DSIT is in line with the three-year indicative budgets provided by Department for Business, Energy and Industrial Strategy in 2022. Using the flexibility offered by the conversation from financial year figures into academic year figures by Research England, we have maintained our recurrent formula funding budgets from 2022 to 2023, providing stability for the sector.
- We are able only to confirm indicative commitments for 2024 to 2025.
- A circular letter about our funding payments in August 2023 was published on 13 July 2023. Institutional funding allocations will be published from late summer 2023.
- The balance of dual support funding continues to be maintained at around 64p in the pound across the current funded period.
- These increases will help universities in their business partnerships to support the UK Science and Technology Framework, innovation strategy, research and development people and culture strategy, and economic growth.
- Increased funding for universities to support doctoral education recognises the government’s priority to continue to support the next generation of researchers. Continuing explicit funding for research culture (new in 2021) reaffirms the government’s commitment to people and culture.
- Specialist Provider Element funding continues for the spending review period to reach the end of the five-year, £80 million package announced by the government in the March 2020 budget.
- Budgets for the Research Capital Investment Fund have increased from expected budgets published in 2022.
Top image: Credit: Pexels
