§ Mr. Purchase:To ask the Secretary of State for Education and Skills what estimate he has made of average additional lifetime earnings accruing to those leaving full-time education at age 19 compared to age 16. [143566]
§ Mr. Ivan Lewis:There is conclusive evidence that staying in full-time education after the age of 16 increases an individual's lifetime earnings potential. People who have two or more A-levels earn on average 659W 15 per cent. more over their lifetime than people who do not, even after allowing for other qualifications gained. The returns to level 3 vocational qualifications typically acquired at ages 16–19 are also significantly positive.
The vast majority of young people remain in education until at least age 16. However, GCSE achievement rates vary. An individual who gains five or more GCSEs at grades A*-C can expect to earn 25–30 per cent. more than someone who does not achieve this level, again allowing for any other qualifications subsequently gained.
The document "Education and Skills: The Economic Benefit" published by DfES in May 2003 presents both Government and wider research undertaken into the economic benefits of public provision of education. It highlights the social and economic value of education and skills, from a basic skills level to degree level, in terms of earnings, employment and social benefits.