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<p>The government recognises the value of the higher education sector and that a high
level of uncertainty remains around the scale of problems that higher education providers,
as a whole and individually, may face in the coming academic year. We have been working
closely with the higher education sector, in the Higher Education Taskforce, as well
as with the Office for Students (OfS) and across the government to understand the
financial risks that providers are facing and to help providers to access the support
on offer. Providers with concerns about their financial viability or sustainability
have been encouraged to contact the OfS at the earliest opportunity. They can now
also directly contact the department’s Restructuring Unit at:<br><a href="mailto:HE.RestructuringRegime@education.gov.uk"
target="_blank">HE.RestructuringRegime@education.gov.uk</a>.</p><p>My right hon. Friend,
the Secretary of State for Education, announced further information about the Higher
Education Restructuring Regime on 16 July and more details are available here:<br><a
href="https://www.gov.uk/government/publications/higher-education-restructuring-regime"
target="_blank">https://www.gov.uk/government/publications/higher-education-restructuring-regime</a>.</p><p>This
may be deployed as a last resort, if a decision has been made to support a provider
in England, when other steps to preserve a provider’s viability and to mitigate the
risks of financial failure have not proved sufficient. The overarching objectives
that will guide the department’s assessment of cases will be to protect the welfare
of current students, to preserve the sector’s internationally outstanding science
base and to support the role that higher education providers play in regional and
local economies through the provision of high-quality courses aligned with economic
and societal needs.</p><p>We will consider providers’ circumstances on a case-by-case
basis, supported by expert advice, to ensure there is a robust value-for-money case
for intervention. In cases where an Independent Business Review is carried out, the
resulting restructuring plan may include options for a merger as well as for consolidation
and services sharing between providers. The department’s Restructuring Unit will work
with the provider and other stakeholders to ensure that the best option forward is
chosen to ensure that the overarching objectives, as mentioned previously, are met.</p><p>Regarding
the circumstances of Buckinghamshire New University, the government does not comment
on individual higher education providers.</p><p> </p><p> </p>
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