Direct government funding for teaching and research has been substantially reduced since 2012, with a study in 2012 indicating that annual government funding for teaching and research would make up just 15 percent of English universities' income by 2015. As of 2014, funding council grants made up 15 to 20 percent of the income of universities as disparate as UCL (18 percent; large research university, 2014 income £1 billion), Durham (17 percent; small research university, 2014 income £300 million) and Hertfordshire (15 percent; teaching focused university, 2014 income £240 million). By 2018, this had fallen to 15 percent at UCL, 11 percent at Durham and 8 percent at Hertfordshire. However currently there are only five fully fledged private universities in the United Kingdom.