REF is used as one component of the formula by which the HEFCE will allocate quality-related (QR) funding for Leeds. Other factors considered include the number of researchers, as well as a subject weighting according to the relative cost of research in each field.
Only research deemed to be of 3-star quality or higher will receive QR funding. The HEFCE has indicated that it has no plans to make major changes to the methodology for allocating QR funding for the academic year 2015/16 or to make any changes relating to the funding formula or subject distribution of funding that would require consultation. It does not intend to make any changes to the research cost weights; it is intended that the new REF UOAs will be mapped to the subject bands.
Leeds’ QR funding for 2015-16 will be confirmed in the annual funding level received in March 2015 from the HEFCE.