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tabling member › label	Biography information for Lord Barnett
max ddp created	2016-02-25T20:15:27.303Z
max ddp modified	2015-02-06T19:40:40.467Z
title	House of Lords Tabled Parliamentary Question 2013%2F14 HL6852

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registered interest

date

exactly:

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and

answering body

answering dept id

answering dept short name

answering dept sort name

house id

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pref label

question text

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member printed

question first answered

answering member


label

tabling member


label

49852

registered interest

date

06/05/2014

answering body

Department for Business, Innovation and Skills

answering dept id

answering dept short name

Business, Innovation and Skills

answering dept sort name

Business, Innovation and Skills

house id

legislature

25277

pref label	House of Lords

question text

To ask Her Majesty's Government, further to the answer by Lord Ahmad of Wimbledon on 26 March (HL Deb, col 528), what was the basis on which he described the sale of the student loan book for £160 million as "value for money for the taxpayer"; and what was the original value of the loans.

tabling member printed

Lord Barnett

uin

HL6852

answer

is ministerial correction

date of answer

14/05/2014

answer text

The Mortgage Style loans offered for sale had a face value of around £890 million.The sale of the Mortgage Style Loan Book was value for money as the purchase price exceeded the value of retention to Government.The real value of the book is below the face value of the loans because of the subsidised nature of the loans and their age. These loans attract low interest rates and have an earnings threshold for repayment. The age-related write off combined with the earnings threshold means some borrowers never repay. The sale of Mortgage style Loans also allowed the Student Loans Company to focus on its core business of supplying income contingent loans (ICR) to current students and collecting repayments from those loans.

answering member printed

Lord Ahmad of Wimbledon

question first answered

14/05/2014 12:00:00

answering member

4210

label	Biography information for Lord Ahmad of Wimbledon

tabling member

1018

label	Biography information for Lord Barnett