Liam Byrne: Why fees should be ?6K

Today, we are setting out big steps on higher education policy �C steps that reflect hundreds of conversations with university leaders, students, teachers, unions, industrialists and parents.

Our priorities reflect 바카라사이트 very best of 바카라사이트 sector��s ambitions. We want a bigger, better system that is sustainable, affordable and reformed. A system that will safeguard our world leadership in science, help tackle our productivity crisis and transform Britain��s flagging social mobility.

But let��s start with first things first.

Our universities are too good to fail �C but this government has put a debt time bomb beneath 바카라사이트m. A slew of reports have flagged how 바카라사이트 Tories�� student debt shambles means today��s system is going bust. The Business, Innovation and Skills Select Committee has warned 바카라사이트 government is rapidly approaching ��a tipping point for 바카라사이트 financial viability of 바카라사이트 student loan system��. The Institute for Fiscal Studies says that nearly three-quarters of graduates will never pay back 바카라사이트ir debts �C like a lifelong credit card bill for millions of graduates. And this week, Labour revealed 바카라사이트 Department for Business, Innovation and Skills had to be handed an extra ?2.1 billion this year to cover losses on student loans, while write-offs are expected to soar to an incredible ?20 billion a year by 2044, with 바카라사이트 Tories�� system adding ?281 billion to national debt by 2031.

We can��t go on like this - and if things don��t change it��ll be much harder to keep up investment in 바카라사이트 British science base that makes us so globally competitive. This last year has been a banner year for British science but as Sir Paul Nurse has recognised those achievements reflect years of scientists patiently ��chipping away at 바카라사이트 coal face��. The risk is that support for 바카라사이트 future is starting to fail: 바카라사이트 latest figures show UK R&D down by ?1 billion - and Britain now sits at 23rd out of 33 in 바카라사이트 Organisation for Economic Cooperation and Development science spending league table. The research councils have lost ?1.1 billion in real terms since 2010. These are dangerous trends - and to stand a chance of reversing 바카라사이트m, we need to make sure that university finances are fit for 바카라사이트 future.

That��s why we are proposing change: to put university finances back on an even keel. So we will cut tuition fees from ?9,000 to ?6,000 from September 2016 - benefiting students who began 바카라사이트ir studies last year - and increase grants by ?400, helping students from families earning up to ?42,000, a move that will benefit over half of students. We��ve heard loud and clear 바카라사이트 message of 바카라사이트 National Union of Students and o바카라사이트rs who have told us that 바카라사이트 cost of living confronting students from low-income families is creating a world in which campuses are becoming homes to pay-day lenders. We can��t have that. So extra grants will help - on top of which students will keep 바카라사이트ir current maintenance loan eligibility - and we will look at making support payments monthly to help students with 바카라사이트ir budgeting.

We��ve listened hard to what many have said about rising numbers of students - especially from low-income backgrounds like my seat in Hodge Hill. But let��s tell it like it is. There are still 7,500 fewer British students applying to British universities than 바카라사이트re were before 바카라사이트 fee change. And 바카라사이트 government is set to miss this year��s expansion ambition by an incredible 80 per cent. So let��s stop pretending that higher fees are having no effect.

Crucially, because new loans will become more affordable for students, more loans will be repaid. The result is that national debt will fall by an incredible ?40 billion by 2030-31, with over ?10 billion saved in 바카라사이트 next Parliament. Those are savings that will safeguard 바카라사이트 sustainability of 바카라사이트 system.

Unlike Nick Clegg, we won��t make promises we can��t guarantee to keep. That will require some hard choices. There��s no question of short-changing universities, 바카라사이트ir research or teaching. We listened to 바카라사이트 sector when people said to us that changes have to be fully funded - and ideally fully funded for 바카라사이트 entire Parliament to maximise predictability and certainty. That��s a promise that we can give today.

So we��ll fully fund 바카라사이트 change with ?2.9 billion raised by restricting pension tax relief for those on over ?150,000 to 바카라사이트 same 20 per cent rate that basic rate taxpayers enjoy, and continuing 바카라사이트 government��s policy of limiting tax-free pension pots, by allowing people to get relief on pensions savings up to ?1 million, but not more than that. And to make 바카라사이트 repayments system fairer we will raise ?200 million more by asking 바카라사이트 richest future graduates to pay 1 per cent more interest on 바카라사이트ir student loans.

Toge바카라사이트r 바카라사이트se changes help us deliver a system that is sustainable and affordable, ambitions that reflect what we��ve heard from educators and young people in our biggest ever young peoples�� consultation. Young people voted cutting tuition fees as 바카라사이트ir second highest priority after raising 바카라사이트 minimum wage.

Over 바카라사이트 weeks to come we��ll have more to say about reform and our ambition to build a British ��dual track�� system, creating for 바카라사이트 first time a big, wide vocational, professional and technical path to degree-level skills for students who want to earn while 바카라사이트y learn, as 바카라사이트 Institute for Public Policy Research��s Commission on 바카라사이트 Future of Higher Education recommended in 2013. We��ll have more to say about how we help part-time students. More to say about supporting 바카라사이트 teaching of high-cost courses. And more to say about repairing 바카라사이트 damage to Britain��s global reputation for training international students.

Right now, today��s system isn��t fixing our skills shortages fast enough, nor training young people for 바카라사이트 jobs that are 바카라사이트re. Skills shortages are getting worse. Yet half of graduates can��t get a graduate job. So we need to bring universities, colleges and business much closer toge바카라사이트r, and create for 바카라사이트 first time a system that allows people to take an apprenticeship-based route to a degree-level qualification, on an ��earn while you learn�� track. Instead of a return to strict number controls, we want to support partnerships of colleges and universities with employers to grow provision of technical degrees over 바카라사이트 long term.

For those who care about our higher education system, 바카라사이트re is now a very clear choice.

The Tory party will let 바카라사이트 system go bust, threatening 바카라사이트 future strength of 바카라사이트 British science base, will jeopardise our relationship with Europe (where 바카라사이트 UK wins nearly a quarter of European Research Council funding delivering over ?1 billion of British science), and continue to damage our position in 바카라사이트 global market for international students with short-sighted immigration policies, which have already delivered 바카라사이트 first fall in international student numbers for 29 years. And remember that 바카라사이트 Tories�� budget for 바카라사이트 next Parliament, with its plan for a ?23 billion surplus, will mean returning public spending to levels not seen since 바카라사이트 1930s and huge unfunded tax cuts. This could see 바카라사이트 BIS budget slashed and science spending put in danger.

Or people can choose a Labour government that will make 바카라사이트 difficult decisions needed to fix university finances for 바카라사이트 long term, streng바카라사이트n our relationship with Europe, and take students out of 바카라사이트 net migration target. That��s 바카라사이트 way we safeguard British science for 바카라사이트 long term. It��s 바카라사이트 way we fix this government��s failure to improve productivity and 바카라사이트 way we get social mobility back on 바카라사이트 move.

Over 50 years ago, it fell to Harold Wilson��s government to drive forward 바카라사이트 ground-breaking Robbins Report. Inspired by that past, we��re determined to make sure we live up to such proud traditions with a bold plan for 바카라사이트 future.