The highest number of first class degrees on record were handed out last year, with almost one in three students graduating with top marks amid concern about grade inflation.

Of those who completed undergraduate degrees last summer, 110,475 students across the UK (28 per cent) were awarded a first.

The proportion of first class degrees has increased by two per cent each year since 2013/14 and four-fold since 1994/5, according to figures published by the Higher Education Statistics Agency (HESA).

The latest figures come amid mounting concern about grade inflation, with both the higher education regulator and Education Secretary both urging universities to take action over the issue.

Damian Hinds has previously called on the Office for Students (OfS) to “deal firmly” with any institutions “found to be unreasonably inflating grades”.

The lifting of student number controls in England in 2015 gave universities free rein to recruit as many undergraduates as they see fit - but the move has led to accusations that they now act like businesses, seeking to maximise their revenue by recruiting as many students as possible.

Universities are in fierce competition to attract students and offering a high proportion of top degrees is seen as one way to entice school leavers to an institution.