Universities: Financial Sustainability

Lord Cromwell Excerpts

Tuesday 21st May 2024 Lords Chamber

[Baroness Barran (Con)]

I think the noble Lord is aware that the Government do not comment on leaks.

[Lord Cromwell (CB)]

If the Minister is not too busy whispering on the Front Bench, could she confirm whether, if a major university—say, one of the Russell group—were to fall over financially, it would be too big to fail, or would the Government bail it out?

[Baroness Barran (Con)]

If the noble Lord looks at the recent data that has been produced on the financial health of our universities, he will see that larger universities, such as those in the Russell group, are in very good financial health and continue to show significant surpluses. Of course the Government have a role to play in making sure that student interests are protected in the case of a university failing.