Boris Johnson has called for Oxford University to endow a college in honour of Margaret Thatcher.
In 1985, Oxford University refused to grant the honour in protest at Baroness Thatcher's education policies.
However, the London Mayor, also an Oxford alumni, said by allowing universities to charge overseas students, she had changed the way higher education institutions were funded.
Boris Johnson, said: "They had decided, unprecedentedly, not to give her a doctorate even though she was an Oxford prime minister, an alumni of that university and the first female prime minister of this country."
"I think she deserves no less because it was thanks to that reform that universities in this city and in this country have been able to invest in research, in all the benefits universities bring to our economy."