§ Mr. BowisTo ask the Secretary of State for Education what the indexation rate for student loans will be for the academic year 1992–93.
§ Mr. FormanThe indexation rate for the year beginning 1 September 1992 will be 3.9 per cent. This was the increase in the retail prices index in the year to June 1992. It represents a significant fall from the previous rates of 5.8 per cent. in the 1991–92 academic year and of 9.8 per cent. in 1990–91. This demonstrates the Government's success in driving inflation down.
We shall show the new indexation rate in a revised edition of "Student Grants and Loans—A brief guide 1992–93". We shall publish that revised edition shortly.