Industry rejects Dearing Pounds 500m funding plea

October 10, 1997

The UK pharmaceutical and chemical industries have given a "resounding no" to a revolving loan fund suggested by Dearing to help plug the Pounds 500 million university infrastructure funding gap. A joint statement by the Chemical Industries Association and the Association of the British Pharmaceutical Industry speaks of "a clear consensus" that finance for such a scheme should not come from industry in the way suggested. A CIA spokesman said: "It is very dangerous to have universities rely on industry like this. It is clearly a government responsibility."

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