Sale of Student Loans Bill
11:45 am
John Hayes (Shadow Minister, Innovation, Universities and Skills; South Holland and The Deepings, Conservative)
Yes, but the nub of what I thought that you said earlier when answering questions from Labour Members was that the principal reason for that veto was to protect the interests of those graduates who were party to this process. Therefore, the reason that you would have ongoing involvement was to ensure some of the things that you were questioned about earlier—the way that debt would be collected, the interest rate, and so on. I was not aware that the Secretary of State’s involvement was to prohibit certain commercial decisions.
What I am describing is a set of commercial circumstances in which a purchaser might choose to resell and would do so, presumably, according to market conditions. Are you now saying that the Secretary of State would have ongoing powers to stipulate to whom the asset may—or may not—be resold?