This document represents the submission of Universities UK to the 2010 Spending Review. It sets out why the authors believe universities are critical to the UK's future economic growth, what the impact of cuts to the budget for higher education would be, and the activities which universities are currently pursuing to secure national economic growth and prosperity. This submission is structured in five parts. First, it outlines what the authors think are the key challenges and vision for the UK economy and society over the next 20-25 years. Second, it describes the critical role universities will play in helping the country realise this vision. Third, it considers the evidence that the UK's competitor countries see investment in universities as crucial to economic recovery. In contrast, the fourth section shows that the UK response could put at risk the government's aims for a fairer and more prosperous society, through a combination of funding and other policy decisions that threaten the ability of universities to deliver what the country needs. The final section engages with the question of how the authors deliver sustainable funding structures for the future, emphasising that these must build on existing strengths in the system. This submission draws upon UK-wide evidence on the role of the higher education sector and identifies a number of common issues for the UK. Whilst decisions taken in the forthcoming spending review will affect all UK universities, the focus of this submission reflects spending decisions that will be made by the Westminster government. Universities Scotland is preparing a separate submission (supplementary to evidence already presented to the Independent Budget Review and to Cabinet Secretary Mike Russell) in response to the Cabinet Secretary's challenge to develop a distinct Scottish solution to the funding of higher education in Scotland. Higher Education Wales is also undertaking independent activity in relation to the future funding of universities in Wales. Relevant Universities UK publications are appended. (Contains 9 figures and 68 notes and references.)