Research suggests.UK graduates contribute to the economy almost 10 times what it costs the state to educate them to degree level

 A think tank and UCU academics union report suggests graduates bring in £180,000 more than those with A-levels over their working life although and average degree costs the state just under £18,800 per student. The research warns that reforms

An average degree costs the state just under £18,800 per student.

It warns that reforms leading to fewer graduates will limit the UK's ability to compete globally. China for example has quadrupled its number of graduates between 1999 and 2005 and is expected to become the world’s largest producers of PhD scientists and engineers, while India is planning 800 new higher education institutions by 2020.

The report concludes that with the continuing economic slowdown, the UK needs to develop measures which will create a competitive advantage for the future- As the number of jobs requiring high skills increases, the number of graduates entering the workforce should be maintained and even expanded, the report says.

UCU general secretary Sally Hunt said unless the UK produced more highly-skilled workers quickly jobs would be haemorrhaged abroad.

"This research shows the huge contribution A-level and degree holders make to our economy and instead of cutting places at college and university ministers should be looking to fast-track learners into the industries of the future."

A Department for Business, Innovation and Skills spokesman said the government recognised the importance of a highly-skilled workforce and that it was continuing to invest in this.

"More people than ever before will benefit from higher education in 2012.

"Our reforms put university funding on to a sustainable footing. We estimate that the cash going to universities could rise to £11bn by 2014-15, which is an increase of 10%.

http://www.bbc.co.uk/news/education-18353539