Sale of Student Loans Bill
10:44 am
Bill Rammell: Recently, there has been some market volatility. While I think that there is still some market volatility, there are indications that the situation is improving. It is crucial that I make it clear that, while we indicated in the comprehensive spending review that we intend to recoup £6.3 billion from these sales over the next three-year period, that is not set in tablets of stone. A major element of the internal and external advice that we will receive will focus on the market conditions and whether they are ripe for getting best value for money. If, according to both the internal and external advice, that test is not proven and the bar is not passed, the sales will not proceed.
I am not sitting here today saying definitively that we will reap £6.3 billion and engage in sales to reach that amount during the next three-year comprehensive spending review. That is our intention, but it is not set in tablets of stone. It will depend on the market conditions.