> This is an inevitable consequence of university privatization and the fees system Universities were never "privatized". They were always private institutions

> This is an inevitable consequence of university privatization and the fees system Universities were never "privatized". They were always private institutions that (mostly) get public funding (including subsidies for charging British students lower fees). They are all AFAIK non-profits (as are almost all independent schools, which historically also got government funding in the form of fees paid for some students - some still do, although it tends to be for profit ones that do so these days as far as I can tell). What has happened is a loss of ethos and a cultural shift to running universities more like businesses. As you say, the focus is on the financial reports. This will inevitably lead to a loss of reputation of British universities, but as you say, so one cares. By the time it causes the damage someone else will be in charge. its very like banks taking stupid risks before the financial crisis: as long as you are out of it by the time things go wrong, who cares?