(11 months, 2 weeks ago)
Commons ChamberI am pleased that we have surpassed our target, with well over 600,000 international students. They remain an important source of income and a source of pride for our universities, and the total impact of international students was worth £37 billion across the duration of their studies.
As the Minister has just mentioned, the economic benefit of overseas students is some £37.4 billion spread between universities and economies across the UK, but applications in this UCAS admissions round are down. With increasingly stiff competition from elsewhere, UK institutions cannot simply rely on their excellent reputations, so what more can the Minister do to ensure that the UK remains an attractive place for international students to study?
As I said to the hon. Lady, we have something like 689,000 international students and our target is 600,000 a year. We are working very closely with Sir Steve Smith. We want to diversify to a whole range of different countries to advertise ourselves to international students but, as I say, the trends are good. The hundreds of thousands of international students who are here benefit our economy and provide an important source of income for universities.
Perhaps if the hon. Gentleman had been here earlier, he might have heard some information that would have helped him to understand what he has just asked.
No, I will not give way; I wish to return to discussing today’s announcement about the money, because it is important. Of course new investment is to be made and it will build on the investment that the Labour Government put in, but with no guarantee that the Royal Mail will continue to use the post office network, that could be good money wasted. Furthermore, will the Minister please clarify whether this is new money for the Department for Business, Innovation and Skills that was not in last week’s comprehensive spending review—or will it lead to cuts in other business spending?
The Secretary of State gave us little insight into when the mutualisation of the post office network might take place, and no detail at all about the nature of the scheme envisaged. Most notably, he completely failed to make a convincing case for the wholesale privatisation of the Royal Mail; nor has any other speaker done so. Labour Members recognise the crucial role that public ownership has in safeguarding the public interest, and in making sure that taxpayers’ money is invested for public benefit and not for private profit. For that reason, we oppose the Bill.