Russell Group defends members’ pandemic surplus

Group of high-tariff providers says universities have worked to provide “best possible experience” during Covid

The Russell Group has hit back after media claims that the pandemic has led to a “£2.2 billion cash boom” for its member institutions.

The Telegraph reported on 19 February that the 24 institutions in the group of research-intensive providers have collectively amassed a surplus of about £2.2 billion, according to their latest annual accounts, under the headline “Russell Group universities ‘profiting from students’ misery’”. The paper also reported that the universities collectively received more than £115 million from the government in furlough payments.