Bangor denies PFI risk to university future

Two student accommodation blocks funded through Private Finance Initiative schemes represent the “most significant” long-term liability for Bangor University, according to a report commissioned by the staff unions amid threats of job cuts.

In an assessment of Bangor University’s finances since 2011-12, seen by HE and presented to staff on 18 January, THP Chartered Accountants claim that two student accommodation blocks financed through PFI schemes “present the most significant long-term liability to the University”.

The report was commissioned by Bangor’s three staff unions—the University and College Union (UCU), Unite and Unison—after the university warned in December 2018 that up to 60 jobs could be cut to help save money. The unions claim that the university is choosing to invest in its buildings over its staff amid sector-wide pressure to attract more students.