UNIVERSITIES could be fined if bosses can’t justify bumper pay packets which see them taking home more than the Prime Minister, it was announced yesterday.

Measures to curb pay hikes could be introduced by new watchdog The Office for Students (OfS) following recommendations by Universities Minister Jo Johnson.

Institutions would have to “justify” salary deals which exceed £150,000 — the current salary of Theresa May — or face penalties, including fines.