Higher Education and Research Bill

My Lords, I will be very brief. I declare an interest as a visiting professor at LSE and UCL, and my first job was as a lecturer in economics at the University of Glasgow, where I saw at first hand the joys of teaching a diverse group of students. I take all the points that have been made about education and the economy. However, I want to speak as a former Permanent Secretary to the Treasury. Far too rarely in this House do we pass amendments that have the effect of helping the Chancellor and reducing the deficit. Undoubtedly, this will do that, so could the Minister pass on that message to the Chancellor? It is a very good reason for accepting the amendment of the noble Lord, Lord Hannay, which I support.