Study links education to millionaire numbers

Britain's ability to generate wealth will be damage by current reforms to higher eduction funding, an investment firm claims.

Skandia has released a university millionaires league table, showing that two thirds of those British millionaires surveyed were educated to degree standard, with a third achieving a Masters.

"Most of the universities attended by the millionaires we surveyed are part of the Russell Group, which highlights the value of getting a degree from a top-rated university," says Graham Bentley, the head of investment strategy at Skandia. "What we find interesting though is that the majority of millionaires (72 per cent) were state-school educated, indicating that a privileged background was not a factor in them being able to have a university education."