Desmond Swayne
Main Page: Desmond Swayne (Conservative - New Forest West)Department Debates - View all Desmond Swayne's debates with the Department for Education
(6 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Speaker
Order. Understandably, there is intense interest in this subject, but I advise the House that there is a ten-minute rule motion to follow and that I have been informed that it is the intention of one Member to oppose it. Thereafter, there is the Second Reading of a Bill, to which 20 hon. Members want to contribute. I must therefore insist that we do not have speeches or pre-conceived rants. What is required is a pithy question, and I know that the Secretary of State will provide a pithy answer. If people do not want to deliver that, then they should not bother taking part today, because it is not fair on colleagues. We can always be led in such a matter by the right hon. Member for New Forest West (Sir Desmond Swayne).
Damian Hinds
The interest rate, to which I think my right hon. Friend is referring, is currently 6.1%, but it varies with inflation. Critically, it means that those who earn more in their 20s and 30s will pay more—[Interruption.] It applies throughout the study period, as the hon. Member for Wythenshawe and Sale East (Mike Kane) should know. Thereafter, the rate varies depending on earnings. It does serve an important purpose, but it cannot be considered in isolation from all the other aspects of the system.