Higher Education Fees
Debate between Vince Cable and Andrew Percy
Vince Cable
Thirdly, we will introduce a threshold for graduate repayment of a £21,000 salary—a significantly higher level than before—and it will be uprated annually in line with earnings. It is important to emphasise that point because under the Labour Government, there was a threshold of £15,000, but it was never uprated on any basis whatever. I wish to communicate what I said yesterday—that students who were pegged at that £15,000 threshold under the current arrangements established by the Labour Government, will in future have annual uprating in line with inflation. Those existing students whom the last Government did absolutely nothing to protect will have inflation-proofing in future.
Higher Education and Student Finance
Debate between Vince Cable and Andrew Percy(14 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text
Vince Cable
As I think I said earlier, the roads to Westminster are covered with the skid marks of different political parties changing direction on this issue, not least those on the Opposition Benches. I would say this at the present stage: the two parties in the coalition are now very much agreed on the way forward. When we look opposite, we see two fundamentally different approaches to higher education—the existing system favoured by the shadow Chancellor, and a new system of graduate taxes favoured by their leader.
Andrew Percy (Brigg and Goole) (Con)
We are all agreed on the need to ensure that the very best people go into our public services where perhaps salaries are somewhat lower. With those graduates now potentially facing largely inflated and increased debts, what assurances can we have that the very best graduates will be supported in going into our public services under these proposals?
Vince Cable
Anybody going into relatively low-paid employment, whether in a vocational approach to public service or in other ways, will be protected both by the £21,000 threshold and the system of variable interest rates. Many, many people in low-paid occupations will not be required to pay off any accumulated debt. It will be written off at the end of the period as a result of the progressive element built into the proposals.
Industry (Government Support)
Debate between Vince Cable and Andrew Percy(14 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Andrew Percy (Brigg and Goole) (Con)
As someone who represents a constituency in Yorkshire and Humber, may I welcome the moves to abolish the RDAs, which in my area have been driven by the interests of West Yorkshire at the expense of East Yorkshire and north Lincolnshire? As we move towards whatever replaces them, will the Secretary of State confirm that local, sub-regional identities and economies will be respected, and that local people will have a real input?
Vince Cable
That is exactly the point. In parts of the country, the sub-regional approach may be more sensible, and we want to create a framework in which that will happen.