Like everything in business, faculties make an internal pitch and win the funds to invest in profit generating business. There are always competing demands for cash and cash is limited. But I don’t think that’s what happened at all. Far more likely in the woke space that is a University, engineering got dropped before it didn’t fit the political agenda of the chancellorship.But what about things like consultancy dress? The university had it's own limited company to sell consultancy services and publications, and I believe it was dominated by the STEM fields, and the business school. There were a lot of industrial partnerships.
I’m an engineering graduate of King’s College, London, a college founded with three Divisions (King’s terminology); Engineering, Medicine and Law with a dose of god bothering on top. I believe it was the first academic institution to teach civil (as in non military) engineering in Britain. It too no longer teaches engineering. Too expensive and not enough students.
As for Blair, the promise of university education for half of the population.