THE Vice-Chancellor of the University of Bolton has spoken out after claims that university heads are overpaid.

Professor George Holmes made national headlines this week after he commented on claims by unions and Jo Johnson, the universities minister, that vice-chancellors are overpaid.

But speaking to The Bolton News he said it was ridiculous that the media had chosen to concentrate on him and how he spends his money rather than debating the issue.

Mr Johnson recently called on universities to “end to the accelerating upward ratchet in vice-chancellor pay” with some being paid three times as much as the Prime Minister.

Prof Holmes said he understood why Mr Johnson made the call given pay restraints in other sectors, but said compared to other countries, vice-chancellors in the UK were not overpaid — and could earn more abroad.

Prof Holmes said: "The UK universities are the best in the world, yet those people leading them are not paid anything like their counterparts in the Australia and or the US.

"It is about the country recruiting and retaining the best people in the world to lead our very best universities.

"The heads of the country's top universities are not paid competitively on the global stage."

He said that there was a worry that the universities would not be able to attract the best people with those who had come from the world's top universities having taken a pay cut and acted 'altruistically', knowing they could double their pay in Australia and America.

Prof Holmes said: "The country has prided itself in attracting great talent but can you imagine a vice-chancellor who is on £1.5 million being asked to lead one of our country's top universities for £500,000?

He said that to attract the best to teach students did cost money.

"If people who have made a success in industry are coming to work in universities then they expect to receive the same as they would have in industry," said Prof Holmes.

The professor said it was this which accounted for the wages of some in universities in this country, adding universities were crucial the economy as those institutions developing talent for the future.

Latest figures show that the vice chancellor of the University of Bolton was awarded a pay rise of nearly £20,000.

The university's financial statement revealed the salary of Prof Holmes, increased from £202,500 to £222,200.

Mr Holmes said that his salary was set by governors — his bosses — at the university, while wages of academics were negotiated at national level through collective bargaining through unions, of which individual vice-chancellors do not play a part.

Commenting on reports about him driving a Bentley and having a yacht, Professor Holmes said: "Everybody has the right to spend their own money how they wish after they have paid their tax."