Oxford Leader: Philanthropy Can't Replace the State

The vice chancellor of the University of Oxford on Tuesday announced a major expansion of the university's fund-raising campaign, but also warned that philanthropy cannot replace state support for higher education. Andrew Hamilton, the vice chancellor, upped the goal for the campaign from £1.25 million to £3 billion (or from $2 billion to $4.8 billion). In a speech praising the role of philanthropy, he also cautioned against assuming that it can pay for all the costs associated with the university. Philanthropy is not, he said, "a magic bullet for the future funding of our universities, and nor is it a door through which the state can progressively leave the scene."