2. Foreword from the Chair of the Board of Governors About

The last year has been one of the most difficult for higher education in recent memory. Costs have risen faster than income, fees remain frozen, and international recruitment has become more volatile. Across the sector, universities are facing into deficits and restructuring at pace.

Against that backdrop, London Met has shown resilience and clarity of purpose. The University is debt-free, holds cash reserves, and invests only where the benefit is clear. These fundamentals matter. They allow us to take decisions deliberately rather than react hastily, and they place us in a stronger position than many of our peers.

The deficit we've recorded reflects both the national picture and choices we’ve made to protect the student experience and invest for the long term. The Board has scrutinised those decisions closely. We are satisfied that financial discipline has been maintained and that the path back to surplus is both realistic and responsible.

I want to reflect personally on the Board’s role. Good governance is about balance: testing assumptions, tracking delivery, but also providing space for innovation and ambition. Over the past year I have seen a leadership team willing to make difficult decisions, and a staff body deeply committed to students, to London, and our global partners. It is our responsibility as governors to match that commitment with rigorous oversight and open support.

The Board itself has seen change. We have welcomed new members who bring fresh expertise, and we have said thank you to those who completed their terms after years of service. Their contribution, often behind the scenes, has been invaluable in guiding the University through turbulent waters.

What gives me optimism is London Met’s distinctive purpose. At a time when universities are often under pressure to look alike, this institution leans into its mission: transforming lives through excellent education, widening access to education and reflecting the real London. That clarity will be our compass in the years ahead. I am grateful to colleagues across the University for their professionalism and are, to our students for their energy and determination, and to our partners for their insight and advocacy.

The year ahead will not be easy. Few in our sector expect it to be. But London Met is resilient, well governed and ambitious. With a clear plan, capable leadership and a strong sense of purpose, we will continue to change lives and to serve London with distinction.