The reality for the majority of graduates this year is that their average starting salary will be about £20,000 - lower outside London. Most new graduates will get jobs, and will not get them on large graduate training schemes, but with small businesses and local firms.

Big increases in tuition fees have reportedly deterred many would-be students from applying for a university place. This is a tragedy at both a national and personal level because it takes a short-term view of the value of higher education.

With National Apprenticeship Week launching today, I want to set you all a challenge. And that challenge is to discover what an apprenticeship can offer you, your organisation or members of your family.

Instead of creating a cloud of pessimism around graduate job prospects and the true benefits to achieving a university degree, the media should be highlighting the opportunities currently available to graduates and the progress that is being made.

We need to address young people's perception of these industries and make sure that they are aware of how rewarding a career that makes use of their knowledge of subjects like maths and physics can be. There is real satisfaction to be had in contributing to the design of things that make people's lives better and can contribute to the sustainability of the planet.