Tessa Munt
Main Page: Tessa Munt (Liberal Democrat - Wells and Mendip Hills)(14 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text
Vince Cable
I do not know the full details of the financial position of the university of Bolton, but I would have thought that it could draw two sources of strength from our approach. First, our approach encourages part-time students by making university more financially attractive for them. Secondly, Bolton can choose to attract students by offering a lower graduate contribution, which it may well succeed in doing.
Tessa Munt (Wells) (LD)
What steps are the Government taking to encourage the development of a greater endowment base for university funding, thus eventually reducing universities’ reliance on taxpayers and students? If the Government are about to dispose of a large number of properties and fixed assets, should not the proceeds be used for long-term investment rather than as a one-off boost to Government funds?
Vince Cable
I have not referred to endowments, but it is probably fair to mention that there is quite a substantial section on them in the Browne report, which I hope that hon. Members look at. The report says that endowments are a potential additional source of finance beyond graduates and the Government. As my hon. Friend will know, endowments are a major source of funding in the United States, and they need to be made attractive and encouraged in this country. Obviously, I cannot predict what the Chancellor of the Exchequer will do in his next Budget, but such encouragement relates in large part to tax treatment.