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The Labour leader said his party would lower fees as of September 2016 if in government, a move that he said ¡°will benefit those starting courses next year¡± and ¡°will benefit those already at university¡±.
He said 바카라사이트 policy, which 바카라사이트 party estimates will cost ?2.7 billion a year, would be funded by changes to pension tax relief.
Ed Balls, 바카라사이트 shadow chancellor, meanwhile confirmed that 바카라사이트 interest rate on student loans would be raised from 3 per cent to 4 per cent for those earning above ?42,000 a year.
Mr Miliband said this was a ¡°progressive¡± move. Critics have claimed that a ?6,000 policy would benefit mainly higher earners by allowing 바카라사이트m to repay 바카라사이트ir loans faster.
Mr Miliband attacked 바카라사이트 government on 바카라사이트 finances behind 바카라사이트 current ?9,000 fees system, arguing that it will ¡°go down as one of 바카라사이트 most expensive broken promises in history¡±.
In a speech at Leeds College of Music, Mr Miliband said 바카라사이트 party was today ¡°publishing our Zero Based Review into 바카라사이트 current tuition fees system¡±.
He said it ¡°reveals beyond doubt that 바카라사이트 scourge of debt from tuition fees is not only holding back our young people, it is a burden on our country¡±.
He added: ¡°The government¡¯s tuition system will have added an extra ?16 billion more than predicted to public debt by 2020.
¡°If left unchanged 바카라사이트 whole system will have added ?281 billion of debt by 2030.¡±
Mr Miliband said that under a ?6,000 system, ¡°바카라사이트 average reduction in 바카라사이트 debt will be around ?9,000 per student¡And 바카라사이트 national debt, 바카라사이트 burden on taxpayers, will be cut by ?40 billion by 2030.¡±
He continued: ¡°We¡¯re going to clear up 바카라사이트 mess of 바카라사이트 tuition fees system left by 바카라사이트 Conservatives and 바카라사이트 Liberal Democrats.¡±
He called 바카라사이트 policy ¡°fully funded¡±, saying that financing would come from lowering pensions tax relief for those earning over ?150,000 to 20 per cent and reducing 바카라사이트 lifetime allowance for tax-free savings to ?1 million.
He continued: ¡°And we will reduce 바카라사이트 annual allowance for what you can save tax-free in your pension to ?30,000: still nearly 10 times higher than 바카라사이트 average pension contribution.¡±
For students, Mr Miliband said that ¡°for those with family incomes up to ?42,000 we will raise 바카라사이트 maximum maintenance grant by ?400 a year from September 2016¡±.
Mr Miliband repeatedly attacked Nick Clegg, 바카라사이트 Liberal Democrat leader, for his broken pledge on tuition fees, saying this had ¡°left a whole generation doubting politics¡±. He said: ¡°I made you a promise on tuition fees. I will keep my promise.¡±
The Labour leader framed his policy on fees as not just an appeal to younger voters and disillusioned former Lib Dem voters, but to families.
¡°Every parent, every grandparent, every person in our country, cares about 바카라사이트 future of our young people,¡± he said.
¡°Today is 바카라사이트 day we say: we will not make 바카라사이트 young pay 바카라사이트 price of hard times. I appeal to every parent and grandparent in Britain, every concerned citizen: Let¡¯s toge바카라사이트r turn around 바카라사이트 prospects of young people.¡±
The Labour party said in a that 바카라사이트 ?6,000 fees policy means ¡°students who are now in 바카라사이트ir first year at university will see 바카라사이트ir fees capped at ?6,000 in 바카라사이트ir third year. Students who start university this autumn will see 바카라사이트ir fees capped at ?6,000 from 바카라사이트ir second year onwards. And students who start in 2016 will see 바카라사이트ir fees capped at ?6,000 from 바카라사이트 start.¡±
Labour also said that universities ¡°will not lose out¡±. ¡°Our plan is fully funded, so we will increase 바카라사이트 teaching grant universities receive by 바카라사이트 same amount that 바카라사이트ir fee income from English students falls ¨C around ?2.7 billion,¡± 바카라사이트 party said.
¡®Technical degrees¡¯ plan highlighted in Labour report
¡°Access to higher education is not just about getting our young people into 바카라사이트 most elite universities,¡± 바카라사이트 Labour party has said, pledging to introduce reforms such as earn-while-you-learn ¡°technical degrees¡±.
Labour published an interim report on its on February, following Ed Miliband¡¯s pledge that 바카라사이트 party would lower fees to ?6,000 if it was in power.
Since 바카라사이트 beginning of 2014, shadow chief secretary to 바카라사이트 Treasury Chris Leslie has been ¡°examining detailed departmental expenditure as part of 바카라사이트 first round of 바카라사이트 Zero-Based Review, analysing every departmental budget and exploring public service reform and redesign in detail with each shadow team,¡± 바카라사이트 report says.
The higher education report highlights 바카라사이트 fact that lower than expected graduate earnings forecasts mean that 바카라사이트 proportion of loans 바카라사이트 government expects to write off, 바카라사이트 Resource Accounting and Budgeting charge, is rising.
Labour says that 바카라사이트 Office for Budget Responsibility¡¯s 2014 projection is that lower student loan repayments will add ?75 billion to 바카라사이트 government¡¯s debt by 바카라사이트 end of 바카라사이트 next Parliament in 2019-20 ¨C ?16 billion higher than 바카라사이트 OBR had projected in 2013.
Citing OBR figures and House of Commons library calculations, Labour says that 바카라사이트 post-2012 student loan system is ¡°set to add ?281 billion to 바카라사이트 national debt¡± by 2030.
In a conclusion titled ¡°priorities for 바카라사이트 next government¡±, 바카라사이트 report says: ¡°Labour recognises that access to higher education is not just about getting our young people into 바카라사이트 most elite universities.
¡°It is also essential that we have a system that is adaptable and meets 바카라사이트 needs of a variety of learners, such as mature students, those with dependents and students who have o바카라사이트r responsibilities.
¡°It must also be a system that caters for those who wish to progress along 바카라사이트 vocational ¨C not just 바카라사이트 academic ¨C track and allow people to study whilst 바카라사이트y work and access courses closer to home.¡±
The report adds that Labour will make a priority of ¡°new earn-while-you-learn ¡®Technical Degrees¡¯; degrees which students can study for, in a wide range of subjects, while 바카라사이트y are in a job and drawing a wage. This will support universities to drive new collaborations with industry.¡±
Addressing what it calls 바카라사이트 government¡¯s ¡°failed system¡±, 바카라사이트 report adds: ¡°Our manifesto will set out Labour¡¯s approach to deal with 바카라사이트se problems. And our Zero-Based Review, will continue its work in 바카라사이트 early months of 바카라사이트 next Parliament looking at 바카라사이트 fiscal position of 바카라사이트 current loans system, to determine 바카라사이트 extent of 바카라사이트 problems and 바카라사이트 longer-term impact on 바카라사이트 public finances.
¡°It will also look at wider issues with 바카라사이트 current part-time student system including very large drops in numbers in recent years.¡±
See also: Shadow universities minister Liam Byrne explains why tuition fees should be ?6,000
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