There are widespread economic, social and research benefits from the higher education sector. These benefits are particularly important in less prosperous areas. While Baroness Smith is right to highlight the economic benefits of larger institutions, we found that even smaller universities can have an immense impact, especially when located in smaller towns, and can be the largest employers in their area. The Government must take full account of the essential economic anchor role of universities when formulating policies and responding to financial difficulties in the higher education sector. (Conclusion, Paragraph 30) Helping Higher Education institutions avoid insolvency