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Sale of Student Loans Bill

It is relevant. This mechanism has been supported by the Conservatives—indeed, the Leader of the Opposition supported it when we announced it in the previous Budget. Through this mechanism we are transferring risk from the public sector to the private sector, and in doing so, we are realising a capital receipt that can go back into the Consolidated Fund and used for other Government spending purposes. That is an important achievement. I need to make one precise point clear at this stage. The Government will retain control of regulations, terms and conditions for all loans, and there will be no adverse change for borrowers, whether their loan is sold or retained.