The Higher Education Statistics Agency has released income and expenditure data for UK universities for 2013-14.
The data show that higher education providers received 16.5 per cent of their income from research grants and contracts, a total of £5.1 billion. This is a rise of 6 per cent on the previous year.
The greatest slice of this money comes from the research councils and the national academies, at £1.67bn. UK-based charities spent just under £1bn, while industry spent just over £300 million.
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