The grant available totals £1,479 million which represents a reduction in funding of 0.5 per cent since 2019-20 in cash terms. As part of this year's funding there are some areas where additional provision is needed – primarily to reflect increases in intakes to pre-registration medical degrees and the continuing effects of the transfer of funding responsibility for pre-registration courses in nursing, midwifery and allied health professions. This means the underlying cut in recurrent funding is greater – at around £70 million (5 per cent) in cash terms, although this should be viewed alongside an increase in capital funding of £50 million.
The OfS is seeking views from higher education providers, students, and other interested bodies and individuals, in a consultation which launches today. Monetary penalties are an important part of the OfS’s regulatory approach as they incentivise compliance with conditions of registration by deterring, or applying consequences for, breaches. They are one of a range of sanctions and interventions the OfS uses to ensure that the interests of students are protected.