I think what is happening is I think first of all there is confidence in the U.K. economy. We're in a German rather than a Greek position in international financial markets, which is very positive and keeps our debt service costs down, and we're also beginning to see real evidence of rebalancing.

Now the main areas of higher education that still enjoy considerable financial support from government are subjects like engineering and science and the research ringfence which is the basic minimum to protect Britain's scientific competitiveness.