The group's chairman, Professor Michael Farthing, said "the uncertainty caused by the government's haphazard approach to reform has not helped".

BBC: UK university applications down as fees rise

British engineer James Starley is, perhaps, most commonly associated with the iconic (and slightly ridiculous) Penny-farthing with its oversized front wheel, but the "safety bicycle, " which his nephew developed the first commercially successful version of in 1885, is the blueprint for most modern bikes.

ENGADGET: Engineering a better bicycle with DBC City Bike Design Alt