MSE News: PM pledges to raise student loan repayment threshold
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The Chancellor of the Exchequer is understood to be examining ways to link tax to age for the first time to promote “intergenerational fairness” in next month’s Budget.
Tax breaks would be offered to workers in their 20s and 30s, paid for by cutting pension reliefs for older and better off workers.
Also,David Davis calls for Tory U-turn on tuition fees and cancellation of student debts
The Brexit Secretary ‘would urge the Treasury to look at the financial structures to see if there was a better way for students’, a source told The Sunday Times0 -
it would come with a hefty price tag, with the Institute for Fiscal Studies estimating that writing off extra debt incurred since tuition fees were trebled in 2012 would cost £10bn.
https://www.politicshome.com/news/uk/education/universities/news/89810/david-davis-urging-treasury-write-historic-student-debt0 -
setmefree2 wrote: »The Chancellor of the Exchequer is understood to be examining ways to link tax to age for the first time to promote “intergenerational fairness” in next month’s Budget.
Tax breaks would be offered to workers in their 20s and 30s, paid for by cutting pension reliefs for older and better off workers.
Also,
http://www.independent.co.uk/news/uk/politics/david-davis-u-turn-university-tuition-fees-cancel-student-debt-a8001891.html
Complicating an already complex tax/student loan system even more. Just KISS.
Still over a month away from the budget though so this could just be made up.0 -
Theresa May’s plans to hike the repayment threshold on student loans ‘could lead to up to three quarters of them being written off’
The move has been criticised by London think-tank for putting a greater burden on future taxpayersTHERESA May’s plans to hike the repayment threshold on student loans could lead to up to three quarters of them being written off, new think tank analysis shows today. The Centre for Policy Studies said it would be fairer to cut tuition fees and interest rates instead.
Experts said it would make university more affordable and ensure the Treasury gets more of its cash back.But the think tank said Mrs May’s plan would put a greater burden on future taxpayers, including today’s students, as the Government currently expects a third of loans to be written off.
Their report said the “simplest and fairest alternative” was lowering the upper cap on tuition fees to either £5,000 or £7,500 a year.They said the interest rate charged throughout the term of the loan should be slashed and the original repayment threshold of £21,000 should be retained.0
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