Student Loan Book: Sale Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Chi Onwurah
Main Page: Chi Onwurah (Labour - Newcastle upon Tyne Central and West)Department Debates - View all Chi Onwurah's debates with the Department for Business, Energy and Industrial Strategy
Student Loan Book: Sale
Chi Onwurah Excerpts(6 years ago)
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Chi Onwurah (Newcastle upon Tyne Central) (Lab)
The Minister seems to be saying that he is selling off the student loan book to invest in the public services that his Government have slashed. Given that it is the end of austerity, should it not be possible to invest in those public services without privatising the financing of our higher education and the debt of so many students?
Mr Gyimah
All the Government are doing is trying to capture an income stream that we will get over 25 to 30 years. This is money due to the Government and the Government are coming to a financial arrangement that allows the money to be captured today. As the last Labour Government saw fit, so this Government see fit, in a sensible and prudent way, to manage the Government finances.