Sale of Student Loans Bill
10:44 am
Bill Rammell: I would say this, would I not, but I think that, regarding this Government’s management of student loan finance since 1997, we have a good track record of getting the estimates correct. We already have a track record in respect of the sale of the mortgage-style student loans, where I think that we demonstrated value for money.
Clearly, the Bill gives us enabling powers to undertake value-for-money assessments over a long period of time and also to undertake sales of the student loan book. In order to arrive at valuations, we have undertaken those assessments internally and also with external advice, and consequently we have robust estimates. However, within the context of having enabling provisions, we have said within the forthcoming three-year comprehensive spending review that we are looking to make sales to the tune of £6.3 billion. Having said that, if we do not judge that the market conditions are appropriate for those sales and we do not think that we will get value for money, those sales will not go ahead. Just because we are passing the legislation does not mean that the sales will automatically take place within a certain time scale.