Vince Cable says Labour's tuition fee plans 'financially illiterate'

Posted On: 
27th February 2015

Liberal Democrat press release

Liberal Democrat Business Secretary Vince Cable said:

 

"Labour's policy is based on a soundbite, and as a result, is completely financially illiterate. 

"It will do great harm to universities and create a costly black hole in the national budget. 

"For a party presenting itself as a government in waiting they are showing staggering ignorance of how university finance works.

"Talk about the current system being unsustainable is rubbish. The OECD, who has no political axe to grid, said the English system is totally sustainable and works well. 

"A £6,000 cut would wreck the financial sustainability of universities, reduce the support for disadvantaged students and benefit only the richest. 

"We learned this lesson the hard way but we now have a system that works, with university funding made fair and sustainable by Liberal Democrats.

 

"This shows in a record number of students and a record number of those from disadvantaged backgrounds applying to university."