- Joined
- 1 Apr 2016
- Messages
- 13,609
- Reaction score
- 552
- Country
https://www.bbc.co.uk/news/education-46591500
A change in how student loans are recorded in the public finances will add £12bn to the deficit, after a ruling by the Office for National Statistics.
The amount expected not to be repaid, which could be 45% of lending, will now be reported as public spending.
So as the current government let Universities increase the tuition fees and squeezed the jobs market through austerity reflected in lower real wages ( we still have not recovered to the levels since 2010) a significant proportion (45%) of this debt will now be paid by the Government.
These attempts to shift spending off the Governments balance sheets like PFI have ended up costing more in the long term.
It's a ridiculous state of affairs run by ideologues.
A change in how student loans are recorded in the public finances will add £12bn to the deficit, after a ruling by the Office for National Statistics.
The amount expected not to be repaid, which could be 45% of lending, will now be reported as public spending.
So as the current government let Universities increase the tuition fees and squeezed the jobs market through austerity reflected in lower real wages ( we still have not recovered to the levels since 2010) a significant proportion (45%) of this debt will now be paid by the Government.
These attempts to shift spending off the Governments balance sheets like PFI have ended up costing more in the long term.
It's a ridiculous state of affairs run by ideologues.
