Labour to cut Student Fees to £6,000 if they win.
BBC
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Ed Miliband says Labour would cut university tuition fees in England to £6,000 per year from autumn 2016.
He says a Labour government would pay for the fee cut from £9,000 by reducing tax relief on pensions for those earning over £150,000 per year.
This commitment to cut fees would not be negotiable in any post-election coalition deals, Mr Miliband promised.
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So.......
There are roughly 1.5 million full-time students (doing a first degree, so not counting post-grads), so we will need to raise £3000 x 1,500,000 per year = £4,500,000,000.
£4.5 billion pounds per year - does he really think there are enough people earning over £150,000 per year in the country, whose reduction in tax relief on their pension contributions could pay for this?
Also, further down in the article, it states
Quote:
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promised that this was a "fully funded policy" and universities would receive an extra £2.7bn per year to replace the fee cut.
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Cutting £4.5 billion from the Universities funding, and replacing it with £2.7 billion - excellent idea.......