"It is important that this key debate is thorough and well researched, " said CVCP's chief executive, Diana Warwick.
BBC: Tories want to 'free up' universities
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The CVCP says staff shortages have caused university departments to delay research projects and to depend on part-time and visiting lecturers.
BBC: Lecture
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The Committee of Vice Chancellors and Principals of the UK universities (CVCP) said it was itself undertaking a comprehensive study of the long-term funding options for higher education.