Can our universities be saved? 

Universities are facing their biggest crisis in modern history, yet most are in denial and living in la-la land. Warning bells have been ringing for some years, but the descent has been precipitous. Just 25 years ago, Tony Blair unveiled the ‘knowledge-based economy’ to be powered by universities. They stood tall, untouchable, almost universally admired. As late as 2020, despite Britain having less than 1 per cent of the world’s population and 3 per cent of global GDP, it had 11 of the world’s top universities, including more in the top 50 than the whole EU combined. London alone boasted four of the top 100, the capital outperforming some entire G20 nations, including South Korea and Japan. It was a golden age. 

But now? Over half are at risk of deficit, and a worrying number teeter on with less than 30 days liquidity. It’s not just those in left-behind areas feeling the heat but well-established institutions too.