§ Lord Juddasked Her Majesty's Government:
What studies they have undertaken to evaluate the contribution by universities and higher education to the future economic and social viability of the United Kingdom; and what was the outcome of such studies. [HL3258]
§ The Minister of State, Department for Education and Employment (Baroness Blackstone)We have undertaken studies that show graduates undertake many of the higher added value jobs in the economy and have high average earnings; there is a good rate of return to degrees of 8 to 10 per cent; the wider benefits include graduates' greater involvement in community and voluntary associations; and publicly funded research is important for industrial innovation. Collectively these studies show that higher education is vitally important to the future well-being of the country.