§ Mr. Rowlands
To ask the Secretary of State for Education and Science (1) what arrangements were made by his Department for the funding of Goldsmith's college, university of London, during the transitional period towards entering the University Funding Committee; what assumptions were made about the rate of inflation in such arrangements; and what shortfalls have occurred since that arrangement was made;
(2) what arrangements are being made to deal with the shortfall that has arisen within Goldsmith's college's finances before they enter the university funding system.
Since Goldsmith's college formally became a school of the university of London on 1 August220W 1988, funding has been the responsibility of London university with the assistance of public funds, now channelled through the Universities Funding Council. With the agreement of all the parties concerned, including Goldsmith's, there was an agreed level of funds transferred from the grant-aided sector to the university sector to provide basic funding for Goldsmith's over the period from 1 August 1988 to 31 July 1991. This reflected then current assumptions including the Treasury's forecast of the gross domestic product deflator. Subsequent additions to the public funding of universities have taken account of the transfer of Goldsmith's to the university sector. The actual distribution of such additional sums is a matter for the Universities Funding Council and the university of London.