The budget crises at American and Canadian colleges and universities could be worse--the British are cutting not just to the bone but beyond. 80% cuts in government support for higher ed? And suddenly? Expect more classes in North American to be taught in British accents. But, of course, they will face steep competition from already glutted job markets. What will become of UK schools? Tuition hikes are inevitable. If the govt refuses to lift caps on tuition while doing this, then it is hard to imagine the damage done to their universities.
While cuts anywhere hurt, it has been made abundantly clear over the years, that money spent on higher education is a sound investment, leading to growth in the neighborhood as well as building intellectual capital for the next generation. These cuts basically mean that the UK is going to undermine its future far worse than what has been happening on my side of the Atlantic.
All I can say is good luck to my friends in these nasty times.