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Higher Education is currently going through a challenging time due to years without inflation adjustments on home undergraduate fees and rising costs. Recent changes to visa policies, which have impacted international student recruitment, have further compounded these difficulties, necessitating cost-saving measures across almost all universities. 

Ïã¸ÛÁùºÏ²Ê¹ÒÅÆ×ÊÁÏ does not expect to open a university-wide voluntary severance or any large-scale compulsory redundancy business cases. 

Impact of Student Fees 

At Ïã¸ÛÁùºÏ²Ê¹ÒÅÆ×ÊÁÏ, we value international students for the vibrant and diverse community they create. Their fees and those of home students are essential for our financial health. Compared to many universities that derive around 25% of their income from international fees, Ïã¸ÛÁùºÏ²Ê¹ÒÅÆ×ÊÁÏ relies less heavily on this source, with international fees accounting for 16% of our income last year. However, the new visa rules have significantly impacted our student recruitment. 

The income from home undergraduate fees has not kept pace with inflation. The slight increase to £9,250 in Wales has not compensated for the reduction in our teaching grant.  

In addition to recruitment challenges, universities are facing rising costs. 

Budget Adjustments and Cost Savings 

In January, the University identified the need to save approximately 8% of our total costs.

Through a comprehensive review, we've identified savings by eliminating vacant positions and capitalising on departures. Moreover, we've identified savings in expenses and are actively pursuing their implementation. We also aim to cut costs over the next two years to streamline operations further. Additionally, we're enhancing teaching efficiency by reducing modules with minimal student enrolment and will aim to boost occupancy in student residences currently not at maximum capacity. Furthermore, capital expenditure is under scrutiny, with only the most strategically vital projects being prioritised for funding. 

Overall, the University Executive is taking a measured approach as we look to rebalance our income and expenditure. We are confident in our ability to navigate these financial challenges and emerge stronger, thanks to the support and understanding of our staff and stakeholders.