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tabling member printed	Lord Mendelsohn
question text	To ask Her Majesty%27s Government%2C following%C2%A0Office for National Statistics%C2%A0changes to the%C2%A0recording of student loans in the national accounts%2C what guidance has been provided to universities regarding their classification%2C or otherwise%2C as contracting authorities for the purposes of the Public Service Contracts Regulations 2015.

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registered interest

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answering body

answering dept id

answering dept short name

answering dept sort name

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question text

tabling member printed

uin

answer

is ministerial correction

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answering member printed

question first answered

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tabling member


label

1109888

registered interest

date

04/04/2019

answering body

Department for Education

answering dept id

answering dept short name

Education

answering dept sort name

Education

hansard heading

Universities: Procurement

house id

legislature

25277

pref label	House of Lords

question text

To ask Her Majesty's Government, following Office for National Statistics changes to the recording of student loans in the national accounts, what guidance has been provided to universities regarding their classification, or otherwise, as contracting authorities for the purposes of the Public Service Contracts Regulations 2015.

tabling member printed

Lord Mendelsohn

uin

HL15080

answer

is ministerial correction

date of answer

11/04/2019

answer text

The Office for National Statistics (ONS) announcement is a statistical change. Therefore, there are no changes to the operation of the student loans system or Department for Education departmental accounting.In April 2018, the ONS announced that they would review the treatment of student loans – in particular re-examine the classification of student loans as financial assets for government. They argued the stock of student loans has grown rapidly in recent years and a significant proportion of the total value of the loan book is now expected to be cancelled at maturity.The ONS announced in December 2018 that the recording of student loans in the national accounts and public sector finances would mean that student loan payments will be split into a portion that is genuine government lending (and will be repaid) and a portion that is government spending (which is not expected to be repaid).

answering member printed

Viscount Younger of Leckie

question first answered

11/04/2019 13:36:38

answering member

4169

label	Biography information for Viscount Younger of Leckie

tabling member

4286

label	Biography information for Lord Mendelsohn