Receiving the report Secretary of State for Business Vince Cable, said:
"This report is the culmination of months of diligent enquiry by Lord Browne and his panel of experts. They have taken evidence from a wide range of people including students, the higher education sector and business.
"We will judge their recommendations against the impact on student debt, ensuring a properly funded university sector, improving the quality of teaching, increasing social mobility and attracting a higher proportion of students from disadvantaged backgrounds."
Minister for Universities David Willetts said:
"The current system of funding for higher education is no longer fit for purpose. Any new funding settlement must promote world class competitiveness in teaching and research, with better quality for students.
"I would like to thank Lord Browne and his panel who have worked in a truly independent, open and consultative manner, for all their efforts and we will carefully consider the recommendations."
The Independent Review of Higher Education Funding and Student Finance was launched on the 9th November 2009. It fulfils a commitment made during the Commons stages of the Higher Education Act 2004 to review the operation of variable tuition fees after these had been in force for three years. The Review was established on a cross-party basis, following consultation on appointments and its terms of reference. The review was chaired Lord Browne of Madingley