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13 years after declaring that New Labour's priorities were "education, education, education", it seems that the government has a new mantra of "cuts, cuts, cuts". On the 18th March, it was announced that funding for universities would be slashed by £573 million, representing a cut of 7.3%. The budget cut is the first time higher education (HE) funding has been reduced since New Labour came power and is a threat not only to students, but also to academic staff and other university workers, who are facing the prospect of large job cuts.