HEFCE has today released its [Consultation on the Second Research Excellence Framework](http://www.hefce.ac.uk/pubs/year/2016/201636/) after a year of delays in light of the Stern Review and now modified from the [previous internal draft](https://www.martineve.com/2016/02/18/REF-consultation/). In true "hot-take" style up-to-the-minute policy reading, I've done a quick first read through of the document and wanted to note some aspects.