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Higher Education

I do not accept what the hon. Gentleman says. We looked carefully at the Australian scheme, the New Zealand scheme and the Canadian scheme. Of course there are differences between them—no country's student loan system is exactly the same as that of another country—but all three provide the same option, and we are ensuring that British people will no longer be deprived of that option. The assumption that 1 per cent. of £30 billion—£300 million—will be repaid early with a 10 per cent. discount is extremely cautious, and that would enable us to fund 10,000 extra university places this summer. Otherwise, according to the figures that we understand the Minister to be considering, there would be a fall in the number of places at the same time as a surge in the number of applications. The Minister must explain to young people throughout the country why he is willing to contemplate a doubling of the number of people applying for university places who will not be able to secure them. We believe that our scheme will help to tackle that crisis, alongside our extension of apprenticeships and training places at colleges. Between them, our proposals add up to a coherent approach. We intend to ensure, at a time of high employment under the present Government, that this summer young people have an opportunity to take up further education and training opportunities.