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Ed Miliband’s tuition fees policy would favour people on £72k pa

By Julian Harris
September 27th, 2011 at 6:30 am | No Comments | Posted in education, Government, Labour

Liberal think tank Centre Forum has been busy crunching some numbers, and their findings don’t make happy reading for Labour’s seemingly-doomed leader.

Ed Miliband has made a big socalist play of his alleged plans to force nasty bankers to subsidise cheaper degrees for the bright teenage children of  hard-working families.

Yet through its complexities, Miliband’s plan would typically benefit “graduates in their fifties earning £72,500″.

The study says: “Virtually no one in the bottom half of the earnings distribution, and virtually no one under the age of 35, will stand to gain from Labour’s plan.”

The policy of lumping further taxes on the financial sector “will be harmful during a period of economic recovery”.

It also adds: “Given the way that the student loan system works, the majority of the gains are illusory – what government gives on one hand, it takes back on the other.”

Indeed. Taking with one hand to give back (less) with the other. Nice to know someone else has noticed that.

Anyway, it looks like Our Vince is happy with the report:

“I would urge anyone attracted to Labour’s proposals to read this very informative analysis,” Vince said. “It makes clear that the policy only benefits wealthier, older graduates, and it exposes Labour’s claim that they want to help young people as completely false.”

You can read the report BY CLICKING HERE .

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