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No signs of deficit financing at King's College, Cambridge even if the foundations of its fortune were laid by Keynes during his period as bursar.

Those attending a recent fundraising event were on the receiving end of a pitch calculated to strike 98 per cent of higher education bright green with envy. "Some people will tell you that we are the richest college in higher education . . . well, unless our fundraising drive is successful, that won't be true for much longer."