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749230

	registered interest
	date	06/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Children: Social Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what is their response to the analysis in the report of the Institute for Fiscal Studies on the public cost of student loans that, for each £1 loaned to cover costs of tuition and maintenance, the long-term cost to the Treasury is 43.3p.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL566
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The Resource Accounting and Budgeting (RAB) charge estimates the value of loans that will not be repaid during their 30-year term. This is usually expressed as a percentage of the loan outlay made in the relevant year.</p><p> </p><p>The estimate of the RAB charge referenced in the question appears to have been taken from the 2014 Institute for Fiscal Studies report on “Estimating the public cost of student loans”. However, the most recently published Institute for Fiscal Studies report of July 2017 has updated this estimate to 31.3%. This is broadly similar to the Government’s estimate of the RAB charge at around 30% for full time tuition fee and maintenance loans and part time fee loans issued in 2016/17.</p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:22:22 answering member 4584 label Biography information for Baroness Sugg
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath

749231

	registered interest
	date	06/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Children: Social Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what is their response to the estimate in the report of the Institute for Fiscal Studies on the public cost of student loans that the total cost of the taxpayer contribution in respect of young full-time undergraduates enrolling in English universities in 2012 is only five per cent lower than the estimated cost for that cohort had the changes to higher education funding not been introduced.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL567
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The most recent Institute for Fiscal Studies report (“Higher Education funding in England: past, present and options for the future”) of July 2017 states that the long run cost of the 2017 system in 2017 is £5.9 billion, 35% lower than the £9.0 billion that is the equivalent cost of the 2011 system.</p><p> </p><p>The figure of 5% was in a 2014 report by the Institute for Fiscal Studies.</p><p> </p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:18:49 answering member 4584 label Biography information for Baroness Sugg
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath

750559

	registered interest
	date	11/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Energy Performance Certificates
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government whether they intend to place a cap on student loans, in order to prevent any increase in the total debt arising as a result of the interest paid being less than the interest accrued in any one year.
	tabling member printed	Lord Myners
	uin	HL691
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The student funding system removes financial barriers for anyone hoping to study and is backed by the taxpayer. A key feature of the scheme is that outstanding debt – including any interest accrued that has not been repaid by the end of the loan term – is written off after 30 years. This means that borrowers are protected if their repayments are less than the interest accruing on their accounts.</p><p> </p><p>Monthly student loan repayments are linked to income, not to interest rates or the amount borrowed. Borrowers earning less than the repayment threshold (£21,000) repay nothing at all.</p><p> </p><p>Once borrowers leave study, those earning less than £21,000 are charged an interest rate of RPI only. Post-study interest rates are variable based on income, tapering up from RPI for those earning less than £21,000 to RPI+3% for borrowers earning £41,000 and above. The system of variable interest rates based on income makes the system more progressive, as higher earners contribute more to the sustainability of the higher education system.</p><p> </p><p>We have a world class student finance system that is working well, and that has led to record numbers of disadvantaged students benefiting from higher education. As ever, we will keep the detailed features of the system under review to ensure it remains fair and effective.</p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:14:34 answering member 4584 label Biography information for Baroness Sugg
	tabling member	3869 label Biography information for Lord Myners

750558

	registered interest
	date	11/07/2017
	answering body	Department for Education
	answering dept id	60
	answering dept short name	Education
	answering dept sort name	Education
	hansard heading	Libya: Detention Centres
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government whether they intend to take action to limit university course fees which do not represent value for money for students; and if so, on what basis they intend to determine which courses provide value for money.
	tabling member printed	Lord Myners
	uin	HL690
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>The Government has introduced the Teaching Excellence Framework (TEF) assessment, to tackle concerns about value for money in Higher Education. Only providers who successfully achieve a high quality rating under the TEF will be permitted to maintain their fees in line with inflation.</p><p> </p><p>The results of the TEF assessment gives students clear information about where teaching quality is best and where students have achieved the best outcomes. This will promote student choice and encourage a stronger focus on the quality of teaching, as higher education providers will need to ensure they are giving students, their parents and the taxpayer value for money.</p><p> </p><p>Furthermore, the Office for Students, once established, has a general duty under section 2 of the Higher Education and Research Act 2017 to have regard to the need to promote value for money in the provision of Higher Education by English Higher Education providers.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Sugg question first answered 09/08/2017 16:16:03 answering member 4584 label Biography information for Baroness Sugg
	tabling member	3869 label Biography information for Lord Myners

750777

	registered interest
	date	11/07/2017
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Small Businesses: Scotland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions his Department has had with the Scottish Government on strategic initiatives to support small businesses in Scotland; and what the agreed steps to be taken were at those discussions.
	tabling member constituency	Stirling
	tabling member printed	Stephen Kerr
	uin	4159
	answer	answer is ministerial correction date of answer 09/08/2017 answer text <p>As set out in my responses to PQ <a href="http://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2017-06-21/411/" target="_blank">411</a> and PQ <a href="http://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2017-07-03/2586/" target="_blank">2586</a> the UK and Scottish Governments have been in discussion at both ministerial and official levels.</p><p> </p><p>Business support in Scotland is largely devolved however, the department engages with all the devolved regions on a number of initiatives aimed at supporting small businesses. Government programmes, backed by the British Business Bank (BBB), the Enterprise Finance Guarantee Scheme (EFGS) and Innovate UK are investing over £700m to support around 4,500 Scottish companies including: -</p><p> </p><ul><li>BBB programmes are currently facilitating approximately £405m of finance in Scotland.</li><li>Over 2,600 loans totalling over £15m via the Start-Up Loans programme. The Enterprise Finance Guarantee scheme is currently facilitating over £61m of finance to 700 businesses in Scotland.</li><li>The Investment Programme is currently facilitating over £214m of finance to over 1,000 businesses.</li><li>Innovate UK is committed to support some 206 innovation projects and to invest £28.8m.</li></ul> answering member constituency Devizes answering member printed Claire Perry question first answered 09/08/2017 07:47:19 answering member 3974 label Biography information for Claire Perry previous answer version 5113 answering member constituency Stourbridge answering member printed Margot James answering member 4115
	tabling member	4604 label Biography information for Stephen Kerr