Drawing on the relevant literature and primary data from two large mixed-method research and evaluation projects based at Lancaster University, as well as the author’s other research work (with smaller samples and more qualitative in nature), this chapter (i) identifies new managerialism as fundamentally ideological in nature; (ii) positions the very significant role of discourse in articulating and sustaining ideologies; (iii) asks whether new managerialist ideology and discourse have become hegemonic in UK higher education, exploring the reasons for any dominance they have achieved; and (iv) concludes with the observation that UK higher education has not been ‘captured’ by this ideology despite its apparent prevalence.