Although focused on England, this review has the potential to seriously affect Universities in Wales because our systems are so entwined.

Responding to the funding review from Philip Augar, the University and College Union (UCU) said that the review had missed an opportunity to explore radical alternatives to the status quo and risked delivering an even worse version of the politically toxic system it was supposed to improve.

UCU head of policy and campaigns, Matt Waddup, said: “The prime minister called the Augar review because the current funding system was so politically toxic. Unfortunately, this review looks like a wasted opportunity to develop radical changes that would make a real difference for students and institutions.”

Read the full response.