Sale of Student Loans Bill
11:15 am
Rob Marris (PPS (Rt Hon Shaun Woodward, Secretary of State), Northern Ireland Office; Wolverhampton South West, Labour)
I appreciate that, but many of the propositions that you just advanced are precisely those that were advanced for PFI, when many of us pointed out these sorts of difficulties. Sadly, those difficulties came to pass. Windfall profits were made, particularly on early PFI contracts, to the point where in later PFI contracts there was a kind of clawback on refinancing windfall profits. I am asking whether, to whomsoever you sell, you are going to put some kind of windfall clawback in your sale agreements, in the event that the loan purchaser, in a fast-changing marketplace, makes a windfall profit through some sort of loan refinancing, just as happened with PFI.