Adrian Bailey
Main Page: Adrian Bailey (Labour (Co-op) - West Bromwich West)Department Debates - View all Adrian Bailey's debates with the Department for Education
(9 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Nick Boles
I met the Minister for Employment, my right hon. Friend the Member for Wirral West (Esther McVey), only yesterday to discuss a range of issues, and I should be happy to discuss that issue with her as well. There needs to be tight co-ordination between our two Departments, and we try to achieve it.
Mr Adrian Bailey (West Bromwich West) (Lab/Co-op)
8. What recent estimate he has made of the resource accounting and budgeting charge on student loans.
The Minister for Universities, Science and Cities (Greg Clark)
The most recent estimate of the resource accounting and budgeting charge is about 45%.
Mr Bailey
I thank the Minister for that admirably concise response.
On Monday, the Higher Education Commission published a report which effectively endorsed the statement in the report from the Business, Innovation and Skills Committee that the current finance system for higher education was unsustainable. The Government rejected the Select Committee’s report. In the light of the overwhelming evidence backing the report, will the Minister tell us what he is going to do about this?
Greg Clark
I do not agree with that report. Our system of student finance is in rude health. The OECD reviewed higher education systems throughout the world, and concluded that the
“UK is…one of the few”
countries
“that has figured out a sustainable approach to higher education finance”
and that
“that investment…pays off for individuals and tax payers.”
This year more students are going to university than ever before, and that would not have been possible without the reforms that we introduced.