Public Affairs News Summary, Latter Half of November 2024
Thursday 28-11-2024 - 16:06
1. Durham University’s response to financial strain
Durham University is facing financial challenges due to rising expenses and stagnant income. Key issues include a £5.3 million rise in employer National Insurance, a £1.7 million shortfall despite tuition price increases, and a £11.5 million loss due to missed foreign postgraduate student recruiting objectives. To address these, the university has implemented cost-cutting measures, reduced energy use, restricted recruiting, and voluntary severance packages. Durham is also aiming to increase its international student intake and diversify revenue streams to ensure long-term financial viability while maintaining academic quality.
Source: Palatine News “Durham University faces financial pressure”
2. Donald Trump’s tariff strategy to rebalance global trade
Donald Trump is serious about tariffs, targeting Mexico, Canada, and China to change their policies on migration and illicit drugs. The move confirms Trump's campaign promises to bring down the cost of living. Trump's selection of hedge fund investor Scott Bessent as Treasury Secretary will not temper the tariff push. The real goal is to fundamentally change the global economic map and reduce China and Europe's trade surplus with the US, which he views as "ripping off America." The consequences of such tariffs shall be further considered.
Source: BBC News “Trump proves he is serious on tariffs - but it's not about trade”
