Four in five universities to invest in new facilities

Four out of five university finance directors are planning significant increases in capital expenditure over the next year to fund new facilities, according to a survey which reflects the increasing 'arms race' between British institutions to attract prospective students, writes Helen Warrell for Financial Times.

More than half the respondents in the poll also forecast an increase in bank borrowing to fund the building work, which ranges from laboratories and libraries to entirely new campuses.
The research, carried out by the consultancy Deloitte, follows a report by the Russell Group indicating that its elite corps of 24 research-focused universities were due to spend more than £9 billion (US$14.8 billion) on new teaching facilities, accommodation and IT infrastructure during the next three years.
Full report on the Financial Times site