Microsoft have just launched a new deal where students can download Microsoft Office 2007 Ultimate Edition for £39.95. You can download it from here: http://www.theultimatesteal.co.uk/ or read more info about it from the Microsoft site here:
http://www.microsoft.com/uk/education/buy/universityoffertandc/default.mspx
This looks like a really good deal - the previous cheapest version was around £90. There is also option to rent the software for £13 a year - the first time I've seen a rental office aimed at the consumer market.
The only catch is that it is only available to students on at least 0.5 of a full time course.
Of course, you could alway use Open Office which is free...
Staff are covered by our 'Work at Home Rights' scheme - more details here:
http://intranet.newport.ac.uk/7/aug07/ms.aspx