We’re at 170 or so universities up from 90 or so pre-2000. I’m struggling to see the value in those universities and why the tax payer should be funding almost twice as many. Any other failing business would be allowed to go bankrupt and be wound up. Does any other country have such a massive increase in universities?
The new universities provide exactly the same kind of value that the old ones do, so I'm not sure why it's difficult to see what that value is (unless you just think universities in general are pointless). Countries should invest heavily in their comparative strengths. By any measure the UK punches hugely above its weight in global higher education. It's short-sighted beyond belief to throw that advantage away simply because some universities (a minority in fact) do not turn a profit in the simplistic sense that, say, a lemonade stand does. Moreover, if it is money you are worried about, then the measure that Sunak is proposing will only exacerbate the problem by cutting off a major source of funding.
The newer universities are, of course, not as good on average as the older ones. However, it takes decades, or centuries even, to build a world-class university. It would be a terrible mistake to close down these newer institutions simply because they have not somehow become competitors to the Russell Group or the Ivy League overnight. The short term cost saving (if there even is one) would amount to pennies in comparison to the terrible economic and social consequences to be passed on to future generations. But what hope is there of the current cabinet thinking further than the next few months?