Higher education in the United Kingdom is undergoing a period of significant change. This is being driven by a number of factors: political, cultural, economic, and technological. The trends are global in their scope, and far reaching in their impact. They affect every aspect of university provision, the environment in which universities operate, what they will be required to deliver in future, and how they will be structured and funded. This report provides a platform for further discussion and reflection about the future. There is no single interpretation of a possible outcome for the sector, but rather a set of frameworks to support thinking about the changes which are currently taking place in higher education, and where these might lead. The themes and analysis set out in this report were generated through an interactive process of development, testing and reflection carried out over a period of months with university leaders and stakeholders from the sector. (Contains 23 figures and 10 footnotes.)