A report released today from the Institute for Public Policy and Research (IPPR), commissioned by the University and College Union (UCU), makes a compelling case for education from an economic perspective.

The report – Further Higher? Tertiary education and growth in the UKs new economy shows that putting an individual through A-levels and university generates a £227,000 net gain for the economy.

For an investment of £5,000 the net return to the exchequer from someone who gains A-Levels is £47,000. A degree is worth an additional £180,000 to the Treasury from just a £19,000 state investment.

This should make Nick Clegg all the more ashamed of caving in on this issue, but perhaps he can use these findings as leverage for yet another Government U-turn; after all it these sort purely financial arguments that have any chance of resonating with his Tory chums.