Donations to universities are at a record high. Why does half go to Oxbridge?

Probably because they spend more.

A report released yesterday by the National Centre for Social Research shows that during 2011-2012 the UK’s universities received more money from philanthropists than ever before. A total of £774m was given, up from £676m in 2010-2011.

The UK’s top universities are receiving the majority of these gifts, with Oxford and Cambridge alone receiving half of the total amount given last year. It can be no coincidence, however, that the universities that receive the most are also spending the most on fundraising.

Out of the 143 institutions that took part in the survey, which was carried out for The Council for Advancement and Support of Education (CASE) and the Ross Group, Oxbridge and Russell Group universities received an enormous £644 million of the total given, with the remaining 119 universities receiving just £130 million between them. Twenty nine universities received donations of less than £100,000.

While many will attribute this imbalance to the fame and prestige of Oxbridge and Russell group universities — Michael Moritz’s gift of £75 million to Oxford last July makes up a substantial portion of the total given during 2011-2012 — the report suggests that, far from resting on their laurels, the top institutions are working hard to attract funding.

Anyone familiar with the challenges of fundraising knows that you have to spend money to make it. This is borne out by the fact that the universities that are receiving the largest donations are spending the most on attracting philanthropists: out of a total of £79 million spent on fundraising initiatives by the 143 participating institutions, £50 million was spent by Oxbridge and the Russell group universities — just 24 institutions in total.

The remaining 119 institutions spent just £29 million between them on fundraising, which averages out at £244,000 per institution as opposed to just over £2 million for the Russell group universities (including Oxbridge).

Interestingly, the figures also illustrate that while together the Oxbridge and Russell Group Universities made about £12.88 for every £1 spent on fundraising, other universities only made about £4.48 for every £1 spent.

This could be due to scalability, as Oxbridge and Russell Group institutions depend on large fundraising and development offices. Oxford and Cambridge alone employed 310 fundraising staff between them last year, and the Russell group employed 422. The other 119 institutions had only 429 fundraising staff between them – equivalent to 3 per university.

It might seem unfair that a handful of leading universities are receiving the vast majority of philanthropic gifts made to the UK’s higher education sector. But the CASE report suggests that these institutions are not merely cashing in on their fame, but making a sustained effort to attract the attention of private donors; to the UK universities that received little last year, it should therefore serve as a reminder that spending money can make you money.

This article first appeared in Spear's magazine.

Utter punts. Photograph: Getty Images

Mark Nayler is a senior researcher at Spear's magazine.

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The Brexiteers' response to John Major shows their dangerous complacency

Leave's leaders are determined to pretend that there are no risks to their approach.

Christmas is some way off, but Theresa May could be forgiven for feeling like Ebenezer Scrooge. Another Ghost of Prime Ministers Past in the shape of John Major is back in the headlines with a major speech on Brexit.

He struck most of the same notes that Tony Blair did in his speech a fortnight ago. Brexit is a blunder, a "historic mistake" in Major's view. The union between England and Scotland is under threat as is the peace in Northern Ireland. It's not unpatriotic for the defeated side in an electoral contest to continue to hold to those beliefs after a loss. And our present trajectory is a hard Brexit that will leave many of us poorer and wreck the British social model.

But, as with Blair, he rules out any question that the referendum outcome should not be honoured, though, unlike Blair, he has yet to firmly state that pro-Europeans should continue to advocate for a return to the EU if we change our minds. He had a note of warning for the PM: that the Brexit talks need "a little more charm and a lot less cheap rhetoric" and that the expectations she is setting are "unreal and over-optimistic".

On that last point in particular, he makes a point that many politicians make privately but few have aired in public. It may be that we will, as Theresa May says, have the best Brexit. France may in fact pay for it. But what if they don't? What if we get a good deal but immigration doesn't fall? Who'll be blamed for that? Certainly we are less likely to get a good deal while the government passes up pain-free opportunities to secure goodwill from our European partners.

As with Blair, the reaction says more about British politics after Brexit than the speech itself. Jacob Rees-Mogg described it as "a craven and defeated speech of a bitter man". Iain Duncan Smith, too, thinks that it was "strangely bitter".

There is much to worry about as Britain leaves the European Union but the most corrosive and dangerous trend of all is that section of the Leave elite which requires not only that we implement Brexit but that we all pretend that there are no risks, no doubts and that none of us voted to Remain on 23 June. That Blair and Major's speeches - "You voted for it, so we'll do it, but it's a mistake" - are seen as brave and controversial rather than banal and commonplace statements of political practice in a democracy are more worrying than anything that might happen to the value of the pound.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.