In 2014 Policy Exchange published the seminal report Watching the Watchmen: The future of school inspections in England. While Ofsted today is a much stronger, higher performing and robust organisation than it was in 2014, there is no public body so perfect that it cannot benefit from external scrutiny.

Universities in the UK are not yet in crisis – but they could be if they continue down their current path. In this report, based on over 50 interviews with vice-chancellors, chairs of council and other senior leaders, we set out the steps that university leaders must take if they are to put their institutions on a robust footing and regain the trust of the nation.

A UK Advanced Research Projects Agency could have a transformative impact on technological innovation in the UK – but the Government must embrace failure if it is to be a success. Learning lessons from the US, ministers must tear up the rule book of research funding bureaucracy and recognise that the majority of projects will not achieve their objectives, but that those that do will be will be transformational. The key to success will be allowing empowered and highly expert project managers to drive forward projects and allocate funding to the best people and projects wherever they can be found.

Today is the final deadline for university applications via UCAS. If previous years are anything to go by, over half a million hopeful applicants will have gone through the process of filling in their forms, making choices, completing personal statements in the hope of going on to an educational experience that will transform their lives.

The UK should feel deservedly pleased with the results of this week’s PISA rankings. Since the last rankings three years ago, it has risen from 22nd to 14th in reading, from 15th to 14th in science and from 27th to 18th in maths. The last is a particular achievement, with the UK improving nine score points over the last three years, one of only a handful of countries to secure a statistically significant increase. The gender gap and rich-poor attainment gap in the UK is also narrower in both cases than the OECD average.

Universities should be places of open debate, where ideas can be debated freely. Recent events, however, have revealed a chilling effect, with high profile campaigns to sack academics and fewer than four out of ten Leave-supporting students feeling able to share their views in class. Our polling reveals that a solid core of 30% of students are consistently in favour of free speech: this report presents policy recommendations for universities, for government and for civil society to ensure academic freedom can thrive in our universities.