Was the REF a waste of time? Strong relationship between grant income and quality-related funding allocation.

If the funding allocated to universities on the basis of the REF is correlated to the amount of grant income universities already receive, what is the point of the output assessment process? Jon Clayden explores the relationship between grant income generated and REF-related QR funding and finds a strong correlation between the two, suggesting that the double-counting exercise is surely not the best we can do.