30 October 2024
UCEA response to the Budget
Responding to today’s Budget, Raj Jethwa, UCEA Chief Executive said:
“Today’s Budget amplifies the significant funding challenges facing HE institutions. The 1.2 percentage point increase in employer National Insurance (NI), together with lowering the threshold at which employers start to pay NI, will add around £372m to the sector’s pay bill – equivalent to 2.1%. This comes on top of substantial increases in employer pension contributions for very many HE institutions in the Teachers’ Pension Scheme earlier this year, falling student numbers and stagnant fee income. HE institutions will now be left with difficult decisions on how they can balance their budgets.”
“The important announcement regarding the National Living Wage reinforces the need to begin urgent work on the review of the pay spine. This is one of four areas of work which we wish to carry out in partnership with the HE trade unions, together with action to make meaningful progress on contract types, workload and pay gaps.
ENDS
For media enquiries, please contact - Marc Whittaker, Communications and Events Manager (m.whittaker@ucea.ac.uk) or Andy Fryer, Head of Communications and Membership (a.fryer@ucea.ac.uk).
UCEA response to the Budget
Responding to today’s Budget, Raj Jethwa, UCEA Chief Executive said:
“Today’s Budget amplifies the significant funding challenges facing HE institutions. The 1.2 percentage point increase in employer National Insurance (NI), together with lowering the threshold at which employers start to pay NI, will add around £372m to the sector’s pay bill – equivalent to 2.1%. This comes on top of substantial increases in employer pension contributions for very many HE institutions in the Teachers’ Pension Scheme earlier this year, falling student numbers and stagnant fee income. HE institutions will now be left with difficult decisions on how they can balance their budgets.”
“The important announcement regarding the National Living Wage reinforces the need to begin urgent work on the review of the pay spine. This is one of four areas of work which we wish to carry out in partnership with the HE trade unions, together with action to make meaningful progress on contract types, workload and pay gaps.
ENDS
For media enquiries, please contact - Marc Whittaker, Communications and Events Manager (m.whittaker@ucea.ac.uk) or Andy Fryer, Head of Communications and Membership (a.fryer@ucea.ac.uk).
