UCT to begin implementing austerity measures

VC Max Price says there's a growing problem in the funding of higher education across the country.

FILE. UCT vice chancellor Max Price sits amongst students as he listens to their complaints outside Jameson Hall on 22 October 2015. Picture: Abed Ahmed/EWN.

CAPE TOWN - University of Cape Town (UCT) management says it will begin implementing a series of austerity measures over the next two years.

Vice Chancellor Max Price in a statement this morning said there's a growing problem in the funding of higher education across the country which has reached critical proportions.

He says the university estimates, at an institutional level, at least R120 million needs to be saved by 2018 to avoid entering what he calls ' a serious deficit budget scenario'.

Price says the university's special budget task team is currently discussing the specifics of the austerity measures for each faculty.

As most of UCT's R2.6 billion budget is spent on staffing, management says about 80 percent of cost cutting will have to be made in that area.

Price says management will rely, where possible, on natural attrition such as retirements, resignations or incentivised retirements.