The Finnish government has said that the university index, which was introduced to maintain public spending levels for higher education, will be cut in half in 2015.
The decision came as a result of government budget negotiations for 2015 to 2018. Cuts were made in several areas to get the country out of towering debt, the government said.
The index was put to use in 2010 to ensure that basic public funding for universities is provided at real cost levels. Funding is determined through three other indices, the consumer price index, the index for wage and salary earnings, and the wholesale price index. Therefore, the full size of the cuts cannot be calculated until the end of the financial year.
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