The Treasury is resisting calls for a £2bn bailout of UK universities, insisting that they should not be treated differently from other hard-pressed industries, raising fears of bankruptcies in the higher education sector.
The Treasury’s opposition to a sector-specific bailout for universities, which was confirmed by officials from three Whitehall departments, comes despite increasing warnings that some universities face crippling losses because of the Covid-19 crisis.
Its resistance has caused division in Whitehall as well as objections from senior figures in the university sector. They warn that a bailout is essential to protecting the national research base that will play a key role in the post-Covid recovery phase.
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