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The new President of Universities ������ϲʿ������ (U������ϲʿ������) has used her inaugural speech to celebrate the role of universities in driving social change, generating jobs and tackling the ������ϲʿ������’s biggest challenges, but called on government to back universities and protect the transformative benefits of higher education.

As 300 senior university leaders gathered at the University of Manchester for U������ϲʿ������’s Annual Conference,��a new report by London Economics shows that in 2021/2022, universities had a positive economic impact of £116 billion, and supported 760,000 jobs. Nearly half (382,500), are indirect, employed by local businesses such as restaurants and retailers who benefit from the economic stimulus universities create. Taken alongside showing a single cohort of international students generated £14.8bn, it brings the total economic impact from ������ϲʿ������ universities to over £130bn in 2021/22.

But Professor Mapstone— Principal and Vice-Chancellor of the University of St Andrews—warns that this positive activity cannot continue without the right support, and highlighted that funding is at its lowest point in 25 years, with tuition fees in England to be worth only £5,800 in 2011-12 prices by 2025-26.

Arguing that “this situation must not persist”, she said that universities need a sustainable funding model to reverse the long-term decline in funding for teaching, ensure a greater proportion of research is covered by public grants and to better support innovation.

Reflecting on the wider climate of fiscal tightening, Professor Dame Mapstone spoke about the role universities must play in stimulating stronger economic growth.

Professor Mapstone also called on the university sector to be ‘realistic’ as it seeks to gain increased public investment:

The London Economics report – commissioned by U������ϲʿ������ - is published alongside a series of case studies, outlining how universities are transforming local communities, meaning people up and down the ������ϲʿ������ benefit from our world leading higher education sector, whether or not they have a degree.

Commenting further on the announcement earlier today that a deal has been reached on association with Horizon Europe, Professor Mapstone warmly welcomed the agreement and said: