This is likely to consider developments across the UK. Lord Mandelson's responsibility is primarily for English higher education, but much university funding comes via research councils which are UK-wide.

BBC: Fee rise 'must aid poor students'

So far the deficit is running more than 20% higher than last year and well above the Office for Budget Responsibility forecast.

BBC: Hard times for Mr Osborne

All these relatively minor measures are likely to be overshadowed by yet another downgrading of the official economic forecasts by the Office for Budget Responsibility which is likely to predict lower growth and higher borrowing in the years to come.

BBC: Budget 2013: Cuts, giveaways and grim forecasts

The September issue of Harvard Business Review includes an article by Nathan Foote, Russell Eisenstat, and Tobias Fredberg, titled The Higher Ambition Leader, that is essential reading for everyone interested in corporate social responsibility.

FORBES: A Higher Ambition for CSR: Corporate Social Purpose

Defined contribution retirement plans, in addition to shifting responsibility for investment decision-making onto workers, almost always force workers into higher cost, poorer performing retail oriented investment options.

FORBES: A Nation on the Precipice: Our Failed Retirement System (October 12, 2007)

Governments can pass the responsibility for paying down the debt back to consumers, where it started, through higher taxes and lessened services.

FORBES: Markets Pass Through Eye Of The Storm

Conservative peer Lord Forsyth of Drumlean, who had responsibility for Scottish affairs under John Major, said he feared the bill would result in much higher taxes for those north of the border.

BBC: Scotland Bill part one

In the next five years the gap between the two is likely to be even higher, at 1.2% a year, according to data from the recently established Office for Budget Responsibility (OBR).

BBC: Pension changes 'are a nightmare', experts warn

The Office for Budgetary Responsibility cut its growth forecast for 2011 from 2.1% to 1.7% due to higher inflation and the surprise contraction in the economy at the end of last year.

BBC: Budget 2011: George Osborne aims to 'fuel' growth