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James Brackley, Lecturer in Accounting, University of Sheffield

University finances are in a perilous state – it’s the result of market competition and debt-based expansion

Matej Kastelic/Shutterstock

The higher education sector in the UK is in financial crisis. Over 60 institutions have announced severance or redundancy programmes, and around 40% expect to be in deficit in 2023-24.

The financial collapse of one or more universities is now a distinct possibility, with disruptive economic and social repercussions for the regions in which they are based.

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