ONS Decisions: Student Loans
Debate between Matt Western and Elizabeth Truss(5 years, 11 months ago)
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Elizabeth Truss
I cannot pre-empt the Augar review, which is currently taking place, of student finance—it will look at some of the issues the hon. Lady has raised—nor can I pre-empt a future fiscal event. This question is somewhat premature, because the ONS has not yet produced its detailed figures on the issue.
Matt Western (Warwick and Leamington) (Lab)
It would seem from the ONS decision that the same sort of mathematical genius has been applied that was applied with Tesconomics a few years ago. Given that 45% of the debt will not be repaid and that a large proportion of the debt is interest, does the Chief Secretary think it is astute and prudent to apply such an extortionate rate of interest—6.3%?
Elizabeth Truss
All aspects of student finance are under consideration in the Augar review, but that is a very different issue from how the ONS classifies various accounting decisions within Government. As I have said, the DFE is leading on the Augar review, and it is addressing those issues.