Thousands marched from Euston Station to Parliament Square to protest cuts to lecturers’ pensions.
Representatives from all London universities were present, as well as a strong turnout from the Labour Party, the Green Party and the Social Workers Party.
University students also attended, in a show of solidarity with their teachers.
Parties need to get together
However, Universities Minister Sam Gyimah has told City News that students are the ones losing out.
He said that the “strike does nothing to help students […] both parties need to get together at the negotiating table and resolve this dispute.”
The dispute centres around plans to move from defined benefits to defined contributions as a means of deciding pensions.
With the former, the pensions are guaranteed at a set amount each year. With the latter, pensions depend on now much money universities are making.
Universities claim defined contribution as a means to cover a shortfall in funding. But lecturers argue to will dramatically reduce their pensions.
Failed to Negotiate
The University and College Union (UCU) organised speeches as part of the protest. Speakers for the event included Shadow Chancellor John McDonnell and Shadow Secretary of State for Education, Angela Rayner.
Ms Raynor told City News, “Employers have really let students and employees down, they failed to negotiate and I urge them to begin to start meaningful negotiations.”
Acas, the government’s arbitration unit, are helming in negotiations. Both sides praised this initiative.
The National Union of Students (NUS) and the majority of students polled support the industrial action. However, London’s 400,000 strong student population may lose out financially.
Tune in to City News at 4:00pm for the full report…
