Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Secretary of State for Education on the index used to calculate interest rates on Plan 2 student loans.

Plan 2 student loans were designed and implemented by the Conservative and Liberal Democrat Coalition Government, and the costs were based on the RPI measure.

In April, interest rates on Plan 2 and Plan 3 loans were capped at 6% for this academic year, to protect graduates from high interest rates.

The Office for National Statistics has confirmed that it will bring the methods and data sources used to calculate CPIH into RPI from February 2030.

This Government will continue to look for ways to make the system fairer, but any changes must be fiscally responsible.