Yesterday’s Budget Statement had a bit to say about universities.
The headline stories will be about funding for research and innovation including a centre for research in aerodynamics, two new catapult centres for Transport Systems and Future Cities: “These will bring together world leading IT companies, innovative SMEs and leading universities to commercialise technologies that will increase efficiency and improve the quality of life for transport users and city residents.” There is also £100 million for new university research facilities designed to attract ‘co-investment’ from the private sector (§2.32). This may tie-in with January’s announcement from David Willetts about new private postgraduate and research ‘universities’ .
Tucked away in the passages on VAT reform are two further references which are likely to have more profound long-term implications.
One is familiar:
2.191 VAT: cost sharing – Following the announcement at Autumn Statement 2011 the Government will introduce a VAT exemption for services…
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