Labour will fight the next election on a pledge to cut tuition fees by £3,000 as part of a "radical" manifestoThe last bit made me smile as tuition fees were introduced by Tony Blair in 1998 and were actually a Labour Party idea in order to pay for the massive new influx of students into university, rather than simply the elite.
Douglas Alexander, the shadow foreign secretary and party’s general election strategist, said a promise to cut student fees is likely to appear in a “credible and radical” manifesto as part of the party’s promise to cut the cost of living for middle class families.
It follows a call by Ed Miliband in 2011 to cut tuition fees from £9,000 to £6,000.
It comes amid mounting concerns over the health of the tuition fees system. Ministers originally expected that 28 per cent of loans would never be repaid, but that is now thought to be closer to 45 per cent . At 48 per cent experts say any benefits from raising tuition fees are cancelled out, experts say.
Mr Alexander said the rate of default was “very high” and Labour would offer a “better solution” for the country’s finances.
“This seems to be another Con-Dem policy which is simply not working.
Seems Labour as ever wish to rewrite history and whitewash their role in it.
Now reducing student debt and regaining any monies paid to them seems like a good idea, assuming you accept the premise that we should be sending so many of them off to Uni in the first place of which it could easily be argued that we don't. My problem as ever being just how do Labour expect to pay for it? Especially when it's on top of a promise to cut middle class debt (another Labour success story)
It does strike me like it always does with socialist pipe-dreams that they simply expect the money to be found and don't actually give a thought as to what will happen if they start soaking some part of the populace to do it. Pointless going after one of their core support groups, the middle class tend to vote either one of the parties in depending on whether they want a change or not so it doesn't bear upsetting them too much and the rich simply up and leave if you hit them.
So, like Labours previous economic successes leaving the country completely spent out and future generations in hock up to the eyeballs, this has all the hallmarks of magic money tree economics where they'll spend money we haven't got to get the student vote...
When will people wake up?