(7 years, 5 months ago)
Commons ChamberAs I said in my opening remarks, we have had lots of votes on student finance issues, and we won them all. [Hon. Members: “What about the statutory instrument?”] The statutory instrument in question has been in force for six months. It went through all the parliamentary processes. Labour Members had plenty of opportunity to push for votes at the correct time; they are now six months too late.
When we reformed student finance in 2011, we put in place a system designed to make higher education accessible to all. Students are now supported by a system of Government-subsidised loans, which are repayable only when borrowers are earning more than £21,000 a year. Controlling the cost of higher education to the general taxpayer who has to fund public spending in this way allowed us, critically, to remove the cap on student numbers and ensure that higher education was available to all with the potential to benefit from it.
The Minister rightly points out that funding higher education will involve a cost to the public purse. His own Government will be aware that 45% of all loans that are taken out are never repaid, and that after the 30-year rule period has elapsed, 70% of students have a debt outstanding. Has he worked out the figures to establish whether that money, which the Government must ultimately pay off, could be better used to reduce the cost of tuition fees up front so that more students could go to university?
The hon. Gentleman is correct in saying that there is a Government contribution towards the loan book. It is a conscious, deliberate Government subsidy towards the skills base of the country, and towards giving more people from disadvantaged backgrounds a chance to go to university with finance being absolutely no barrier. We want people to pursue worthwhile, socially valuable careers that may not lead to high earnings—careers in social work, for instance—and we also want people to be able to take on childbearing and family-rearing responsibilities. Those are all reasons why the state will continue to make a contribution towards the cost of the loan book
(7 years, 5 months ago)
Commons ChamberNo, that is manifestly out of order. The hon. Gentleman, I think, was more interested in what he had to say to the Minister than in anything the Minister might have said to him.
6. What estimate his Department has made of the future level of investment required in the UK’s gas storage facilities.
There has been significant investment in the UK’s natural gas supply infrastructure over the past decade. It is highly complex, because we benefit from highly diverse and flexible sources of natural gas. They include: indigenous production from the North sea; six international gas pipelines with Norway, Belgium and the Netherlands; three liquefied natural gas terminals that can bring supply from anywhere in the world; and a number of modern, responsive gas storage facilities. We are confident that market-led investment will continue to deliver secure gas supplies, but I will continue to monitor the position.
I thank the Minister for his answer. The ceramics industry is a major employer in my constituency. It is very energy-intensive and heavily reliant on a secure supply of gas for business continuity. In the light of the announcement that the Rough gas storage facility is to close, what assurances can the Minister give the ceramics industry that the gas it needs will not run out or become unaffordable?
As I explained in my answer to the hon. Gentleman’s first question, we have a very diverse range of sources. Analysis conducted by the National Grid and others confirms that the closure of Rough will not cause a problem with security. I give the hon. Gentleman an undertaking to monitor this, with my Department, on a weekly basis.