UNIVERSITIES which offer higher standards of education should be allowed to charge higher fees, Oxford University’s vice-chancellor has claimed.

In his annual speech yesterday, Professor Andrew Hamilton, above,said the education provided at Oxford could be under threat if money was not found to plug a £70m shortfall.

He said the idea of a market where “every item, virtually regardless of content and quality, is the same price” seemed “a little odd”.

He added that universities should be able to charge fees based on what they offer to students, adding that high fees should not prevent access to education providing financial support was available.