“More universities could go bust”

An article in The Guardian on 4 March 2011 announced “More universities could go bust as fees rise, says audit office“. During the period of the Labour Government we saw an emphasis on “Education, Education, Education” with even the Daily Telegraph conceding that the Government had delivered on its promise of significant investment in this area.  But now the reverse is true.  Have we grasped the implications of this change sufficiently, I wonder, or are we still fixated on approaches to IT development and support which reflect a culture of growth and optimism which is no longer valid?