Weak pound affects UK’s access to world-class scholarly publications

Access by UK academics to world-class research, scholarly books and journals is at risk because the crashing value of sterling has severely damaged libraries’ purchasing budgets.

Budget cuts to libraries’ journals and books subscriptions could jeopardise the UK’s ability to support world-class research and teaching, the Research Information Network (RIN) has warned.

Universities, funding bodies, researchers and publishers must work together to find creative, practical and sustainable solutions to this serious and unforeseen challenge to the UK’s research base, it added.

Michael Jubb, director, RIN said: “We call on all the key stakeholder groups to find solutions to ensure that the scholarly publications link in the chain from genius to wealth creation is not damaged beyond repair”.

Libraries play a crucial role in the acquisition of books and journals for professionals and students who depend on the latest scholarly publications. Shrinking budgets and the diminishing value of the pound has harmed their ability to buy high quality journals.

Toby Bainton, secretary of the Society of College, National and University Libraries, said: “In more prosperous times, librarians have managed to fund an impressive and growing list of journals for their researchers and students. Journal resources have been enhanced despite relatively high inflation in prices.

“Now, with reduced budgets and the remarkable fall in the value of the pound against the dollar and euro, the pressure is serious.”