Edinburgh to suffer £14 million funding cut as money reallocated to lower ranked unis

Edinburgh Uni is set to have its funding cut by millions for the money to be allocated to universities lower in the world rankings.

But academics have slammed the move by The Scottish Funding Council as “short-sighted” and are now fearful for Scotland’s leading institutions.

Edinburgh is set to lose £8 million in funding next year and £14 million a year thereafter because the SFC has changed how it allocates funding based on the research of academics.

And to rub salt in the wound, Heriot-Watt will have an increase of £2.2 million per year.

Sir Tim isn’t best pleased

And academics aren’t happy. A spokesperson for the University attacked the move, saying: “This new move to fund world-leading research at a lower rate is very short sighted”.

The lack of funding comes in light of figures showing a four per cent fall in the number of Scottish students coming to the University compared to the fee-paying English & International students.

Edinburgh’s Vice-Chancellor Sir Timothy O’Shea said the move will “cause Scotland to lose an important competitive advantage that delivers jobs and opportunities.”

But it’s not just Edinburgh feeling the effects of the London. St. Andrews is to lose £400k while Stirling and Strathclyde will see increases in the £2 million range.

Pete Downes, Principal of Dundee University and convener of Universities Scotland, also attacked the move: “Today’s funding allocations confirm that many will lose out and there is no scope to build on success.”