§ Mr. St. AubynTo ask the Secretary of State for Education and Employment (1) what estimate he has made of the combined cumulative savings in the financial years 1998–99 to 2000–2001 at 1995–96 prices from the abolition of student grants and the introduction of tuition fees under the Government's preferred approach to the future funding of higher education; [33266]
(2) what estimate he has made of the cumulative additional loans expenditure in the financial years 1998–99 to 2000–2001 at 1995–96 prices under the Government's preferred approach to the future funding of higher education. [33265]
§ Dr. Howells[holding answer 6 March 1998]: We said in July 1997 that our estimate of the cumulative combined savings from the Government's new higher education funding policy is £250 million by 2000–01. The 221W estimated cumulative additional loans expenditure of £2,250 million by 2000–01 is offset by savings of £2,500 million resulting from the effect of the new fees and grants policy. These figures are for the United Kingdom and in 1995–96 prices. They do not reflect our decision to pay out loans on a termly basis, which released money in 1998–99. Further information will be available following the outcome of the Comprehensive Spending Review.