Student Loan Book: Sale

Debate between Sam Gyimah and Paul Sweeney

Thursday 11th October 2018 Commons Chamber

[Mr Gyimah]

The hon. Gentleman, an experienced parliamentarian, will know that we have an income-contingent loan system. The repayment threshold has recently been raised from £21,000 to £25,000, thereby benefiting students to the tune of £300 a year. Deliberately designed into the system is a subsidy from the Government; we understand that 45% of students will not pay back the loans in full—that is the subsidy that goes into the loan system. The system means that no one is barred from going to university as a result of their personal financial circumstances.

[Mr Paul Sweeney (Glasgow North East) (Lab/Co-op)]

One benefit of being elected to this place last year was that I was able to pay off my student loan much quicker than I expected. As the Minister will be aware, it was arrested from my wages directly, in the same way as national insurance contributions and income tax. So why on earth would the Government sell off future revenue sources such as student loans, given that they would not dream of doing it for national insurance or income tax? This is absurd.

[Mr Gyimah]

The repayments are collected through the tax system, and that does not change at all. All that changes is that the benefits of the future income stream now accrue to someone else. That is done not only by Governments around the world, but by businesses. It is a simple fact that if we can capture the value of an uncertain income stream today at a reasonable price, it makes sense to do so.

Nuclear Sector Deal

Debate between Sam Gyimah and Paul Sweeney

Thursday 28th June 2018 Commons Chamber

[Mr Gyimah]

The hon. Lady identifies a risk to this critical infrastructure. I can assure her that we take all the steps necessary to make sure that it is protected, and cyber-security is one of those.

[Mr Paul Sweeney (Glasgow North East) (Lab/Co-op)]

In Scotland, the nuclear energy sector is worth £1 billion a year, employs 12,000 people, and generates 35% of the nation’s electricity in a stable and consistent way. Scotland’s four advanced gas-cooled reactors are due to be decommissioned and taken offline by 2030. Has the Minister had any discussions with his Scottish ministerial counterparts on the huge industrial opportunity that this presents for Scotland at Hunterston and Torness after 2030?

[Mr Gyimah]

I am glad that the hon. Gentleman has recognised that there is a huge opportunity for Scotland in this deal, given how much Scotland participates in the supply chain. As we are doing with the devolved Government in Wales, we will be working with all the devolved Administrations, where this is relevant to them, to make a success of this deal.

Prisons Policy/HMP Long Lartin

Debate between Sam Gyimah and Paul Sweeney

Thursday 12th October 2017 Commons Chamber

[Mr Gyimah]

I do not have that exact figure to hand but am willing to write to my hon. Friend with the answer.

[Mr Paul J. Sweeney (Glasgow North East) (Lab/Co-op)]

This month the inspectorate reported that there was a major under-prescription of methadone at Low Moss prison near my constituency and also of the anti-overdose drug naloxone. Will the Minister consider the impact that the under-prescribing of these critical drugs may have on the safety of the prison population?

[Mr Gyimah]

If the hon. Gentleman is willing to write to me, I will be happy to look at that specific situation; it sounds as though it is a situation specific to that prison.