House of Commons · Written Ministerial Statement
Business Update
29 June 2020 · Department for Business, Energy and Industrial Strategy
Proposed by Alok Sharma Con Reading West
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- UK government announces 280 million support package for universities affected by COVID-19.
- Funding includes grant extensions, low-interest loans, and small grants to cover up to 80% of income losses from international students for the 2020/21 academic year.
- Universities must use the funds to sustain research activities.
Issue summary
The UK government is announcing a package of support for universities impacted by income losses due to the COVID-19 pandemic.
Action requested
The Government is providing £280 million in funding for grant extensions and low-interest loans with long pay-back periods, supplemented by small grants, covering up to 80% of income losses from international students for the academic year 20/21. Universities will need to demonstrate that funding is spent on sustaining research activity.
Key facts
- £280 million government funding available for universities and research organisations.
- Government will provide low-interest loans with long pay-back periods, supplemented by small grants from Autumn.
- Up to 80% of income losses from international students covered in the academic year 20/21.
- Funding is targeted towards sustaining research and innovation activity, focusing on STEM research.