A Universities Wales spokesperson said, “While it is too early to fully assess the impact today’s budget announcement will have, Universities Wales would emphasise that adequately funded, robust and internationally competitive universities bring widespread benefits to the economy and wider society. The importance of universities to the economy is underlined by recent studies which show that Welsh universities are responsible for almost 39,000 jobs in Wales and that for every £100m invested in higher education, a further £103m is generated within the wider Welsh economy.
“While we recognise the Welsh Government has challenging decisions to make about where to prioritise its funding, the level of investment in our universities will have a direct consequence on universities’ capacity to deliver desired policy outcomes and cost savings not just to the education budget but across other key budget areas. Taking health as an example, a recent Welsh university study has shown that using a newly developed treatment for people living with dementia could save the NHS over £54.9 million per year across the UK. We look forward to working with the Welsh Government to ensure there is sufficient contingency and support available”.