That is a very good point and I was going to loop that in with devolution and so forth. My hon. Friend makes a powerful point: it is very important that our universities are connected to businesses and professions. I would make two further points. First, through devolution and making sure universities become dominant the partners of cities and other regions, they will be able to make those links, develop those stakeholding opportunities and contribute to the world of research and development that is so important beyond the university itself.
Secondly, we must recognise that businesses and professions have an interest in investing in universities and we should encourage them to do so both in the traditional way of supplying capital and in the most sensible way, which is supporting students to go to university, stay at university and develop research opportunities. There are steps in this Bill to make that happen, which is why I welcome it.
I like the idea that the office of students will be able to start helping to shape the new universities and create access to the degree subjects we need. That chimes with the knowledge I and everybody else now has that certain skill sectors are woefully undersupplied. We need to develop the university sector to help put that right. It is important that we develop that relationship.
I also welcome the fact that this Bill is saluting the Nurse review, which is an important contribution to the debate. I can see an opportunity for the Education Committee to have yet another hearing on who might be in charge of UK Research and Innovation, and I look forward to that given our recent experience. That structure needs to be user-friendly in the sense that it must engage with the world of research and all those interested in science, because we must remember that getting IP in the right place is important, as is recognising the value of IP and that there are sometimes questions about who owns IP and who is going to benefit from it. We need to set up a system that looks good and is able to deliver that structure.
I also want to talk about the question of destinations. We think about it all the time when we think of schools because increasingly it is destinations from schools that matter, rather than just qualifications and assessments. Destinations should definitely have a place. That is why I am pleased about the teaching framework, as I think it will help us shape the destination issue in a very interesting way.