Universities in Britain Brace for Cuts in Subsidies

The New York Times reports:

For months, Britain’s universities have warned in apocalyptic terms about the devastating cuts they face as part of the government’s grand plan to reduce public-sector costs. Now, with the government poised next week to announce its spending plans, their worst fears seem about to come true.

Prof. Steve Smith, president of Universities U.K., which represents Britain’s higher-learning institutions, said the government was likely to cut about 80 percent of the current $6.2 billion it pays annually for university teaching, and about $1.6 billion from the $6.4 billion it provides for research.

Socialists to take a cut.