Disaster in the United Kingdom as the budget for universities this year was slashed by 4.2 million pounds.
Yes ladies and gentlemen. The result? The Oxford/Cambridge boat race has been cancelled.
Many considered this event to be a waste of money, but tradition has always seen it continue nonetheless. Until David Cameron came along.
"I'm sick of the Oxford rivalry. We never win really, and most people want Cambridge to win. So I thought we'd slash it from the budget."
Fear not though, because the politicians will be replacing it with a cheaper equivalent: the Lib Dem, Labour and Tory boat race.
Many expect that this will appeal to younger voters, whereas Labour have rubbished this idea.
Only because John Prescott was voted in as their principle rower.
Throwing away money? Nonsense!