§ Mrs. Ann TaylorTo ask the Secretary of State for Education (1) what is the projected cost of the student loans scheme for each financial year from 1992–93 to 2022–23;
(2) during which financial year he currently expects the student loans scheme to break even.
§ Mr. BoswellThe student loans scheme produced public expenditure savings, when compared to previous policies, in the first year of its operation, 1990–91.
Actual United Kingdom expenditure on student loans in 1992–93—net of gross repayments—was £230 million (£183 million in 1990 prices). The table attached gives projections of net United Kingdom expenditure on loans in each financial year from 1993–94 to 2022–23.
396W
Projected net expenditure on student loans scheme United Kingdom, £ million 1990 prices Year Cost 1993–94 222 1994–95 271 1995–96 305 1996–97 338 1997–98 393 1998–99 473 1999–2000 579 2000–2001 685 2001–2002 724 2002–2003 723 2003–2004 716 2004–2005 713 2005–2006 709 2006–2007 709
Year Cost 2007–2008 698 2008–2009 678 2009–2010 628 2010–2011 580 2011–2012 524 2012–2013 494 2013–2014 465 2014–2015 442 2015–2016 422 2016–2017 402 2017–2018 384 2018–2019 369 2019–2020 355 2020–2021 344 2021–2022 329 2022–2023 316 Notes:
1. Figures are for total United Kingdom outlay on student loans, net of repayments of principal and interest.
2. Underlying assumptions are consistent with the projections of net expenditure on loans in England and Wales for 1993–94 to 1995–96 set out in Cm 2210.
§ Mrs. Ann TaylorTo ask the Secretary of State for Education what plans he has to abolish the student loans scheme.
§ Mr. BoswellNone.