The latest available analysis by EIS showed that by 2011-12, Scottish universities had accumulated an operating surplus of almost £85 million between them, up from £15 million in 2008-9.3 The Scottish Funding Council also notes that this figure takes into account exceptional costs related to restructure and that the underlying surplus is £91.4 million, compared with a sector forecast of £70 million. They also held reserves of £2,497,677,000.4

A spokesperson for the combined unions at GCU said:  ‘What we are asking for is a modest and affordable pay rise to reward those who are the backbone of our current education system and who have made universities like Glasgow Caledonian the success story they are today.’