Business and Universities in challenging times
Thursday 8 October 2009
As the UK continues to deal with the current economic and political environment, Richard considered the impact on our world-class higher education sector, the role that business can play and the wider implications for the UK economy.
The higher education sector is facing some urgent challenges including the changing needs of business, intensifying international competition and constrained public sector funding. Effective collaboration in meeting these challenges between the higher education sector, business and government will be critical to the UK’s economic recovery and sustainable international competitiveness.
Richard discussed the CBI’s report, prepared on behalf of business, which offers recommendations as to how business, the higher education sector and government can each contribute to ensuring:
- that our future students have the best chance of success in an increasingly competitive world
- the capabilities of the higher education sector are fully utilised to equip our existing workforce with the skills necessary for today and
- research and innovation partnerships between business and higher education have the best chance of success.
Having studied history at Balliol College, Oxford, Richard joined the Financial Times in 1966. He edited the Lex column in the 1970s, becoming financial editor in 1979. In 1982 he moved to New York as the bureau chief, returning to the UK a year later as deputy editor. He became editor of the Financial Times in 1991 and during his ten years in this role launched the US version of the newspaper.
In August 2002 Richard spent a semester at the Kennedy School of Government at Harvard University. In 2003 he was asked by the chancellor to write the Lambert Review of Business-University Collaboration.
A member of the Bank of England's Monetary Policy Committee from Spring 2003 until Spring 2006, Richard took up the post of director-general of the CBI in July 2006.
Among a number of other non-remunerated roles, Richard is also a trustee of the British Museum and became chancellor of the University of Warwick in August 2008.