When asked by the ABC's Tony Jones on Wednesday whether he would oppose fee deregulation, Mr Palmer said: “I think we've got to be realistic and not oppose anything for the sake of it. We want to have a situation where we have the best universities in the world that can assist industry and stimulate the economy, creating more jobs. That may mean that we have to have some universities which are pre-eminent above others and I don't think there's - wrong for people to have a choice.”

This echoed the rhetoric of Education Minister Christopher Pyne, who has said Australian universities need to be “set free” to compete with the best in the world.

Mr Palmer was still open to the policy two days later when asked by Fairfax Media.

"We've got to see how we can have a win-win situation for Australia and for Australian students," he said.

"I do think our universities could be a great export for Australia."