University funding to GO UP post-Brexit as Government saves £5BILLION a year
In 2014/5, the UK received £1.67bn from European Regional Development Fund (ERDF) and European Social Fun (ESF).
And of that, British universities took £100m each year to fund projects promoting enterprise and growth.
But the huge sum is only 29 per cent of the whopping amount the British Government pays in.
And now MPs claim the government will be able to increase funding to higher education once it stops paying into the funds - saving more than £5bn every year.