Student Loan Book: Sale
Debate between Tom Pursglove and Sam Gyimah(7 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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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.
Tom Pursglove (Corby) (Con)
Have lessons from previous loan book sales informed the decision making on this tranche?
Mr Gyimah
I caught just the tail end of that question. If I understood it correctly, my hon. Friend was asking about the process and the decision making in the past. We have been dealing with this for two decades in this place; under the last Labour Government there were mortgage-style loans, where loans were sold to private investors, who could contact students directly and chase them for the money. That has now changed under this system.
Oral Answers to Questions
Debate between Tom Pursglove and Sam Gyimah(7 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Tom Pursglove (Corby) (Con)
Space Policy
Debate between Tom Pursglove and Sam Gyimah(7 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Tom Pursglove (Corby) (Con)
What benefit does my hon. Friend believe this sector will bring to the UK economy in the decades ahead? Does he believe that there will be direct benefits for our existing industrial supply chains, such as the steel industry?
Mr Gyimah
The space sector, in addition to being part of our critical national infrastructure, underpins our value in the economy to the tune of £250 billion. This is not just about pushing the frontiers of human knowledge; it is also about creating jobs and helping to power our economy forward. That is why this investment announcement is so important.