1. “Plans for the coming financial year already had embedded savings of £21.2m, in order to reduce our operating deficit from £33.1m in 2025/26 to £22.3m in 2026/27. More recent financial forecasting has shown that a further £11.3m of savings will now be required during 2026/27 to achieve the agreed deficit.”
2. “As well as an element of ongoing external volatility, these additional savings largely reflect issues highlighted during development of the budget, including inconsistencies found between the planning and budget processes. Thanks to the very detailed nature of our budget setting process, these were identified so that an up-to-date picture could be considered by Council.”
3. “The scale of savings required means the financial challenge facing the University has become greater than previously expected.”
4. “The plans signed off by Council include tighter control of spending on central projects, goods and services, and continued investments in both systems improvements and income generation activities.”
5. “Alongside this, significant savings will be required in both Professional Services and Academic Schools, supported by investment in activity designed to create more efficient ways of working.”
6. “However, vacancy controls alone will not deliver all the savings required. While no redundancy programme is currently planned, restructuring cannot be ruled out as plans are developed.”
7. “…This has to include applying our reserves to strategic development rather than continuing to rely on reserves to maintain a deficit position”

The full senior management communication can be accessed here https://portal.reading.ac.uk/staff/all-news/2026/july/Savings-plans-for-2026-27 and, in case you missed it you can find further information from ReadingUCU in our email update to members on 17th July

We want to hear from you and welcome your comments and thoughts. If you prefer to speak to us, rather than email with any detailed thoughts, please let us know at the above addresses and we can arrange a phone call.