Denham: Report may ‘shackle students to debt’

John Denham, Labour’s shadow business secretary, responds to Lord Browne’s report into High Education funding and student finance:

“Lord Browne’s report deserves careful study but, his conclusions seem to reflect a belief that the coalition government will cut spending on HE Teaching by around two thirds. This is a massive cut even when set against the coalitions aim to cut spending by 25%. Higher education is a major driver of growth and innovation and needs sustainable financial support from both the public and private sources.

“It is right that students make some contribution towards to cost of their higher education. However, the system must be fair, progressive, sustainable, and ensure that students can choose the course most suited to them and not be forced to shop around for the cheapest course.

“We are concerned that many graduates will be shackled by debt for the majority of their working lives; that those on middle incomes in typical graduate jobs may pay more than their fair share and the highest earners will pay less and be free of debt much earlier.”