Universities UK has warned that a fee cut would leave a serious funding gap DAN KITWOOD/GETTY

University tuition fees could be cut to £6,500 under proposals from a commission established by Theresa May to recommend higher education reforms.

The move would cost the Treasury £3 billion a year and either lead to a cap on student numbers or leave universities with a third less income from fees.

University vice-chancellors, politicians and higher education experts reacted with dismay to the proposal, warning that it could threaten social mobility and force struggling institutions to close.

The prime minister came under pressure on the issue after Jeremy Corbyn’s pledge to abolish tuition fees won support from young voters in last year’s general election. It is widely thought in Whitehall that Mrs May is keen to attract the youth vote by promising a cut in…