Member

Amendment 483 would essentially re-establish that principle. However, is it feasible, and by when? It would obviously take some time to implement—let us say four years. In that final year, it would cost roughly an extra £500 million. This is 11% only of the proceeds of the growth and skills levy, and our underskilled young people surely deserve no less than that. It is they who should have the first call on the levy money. Incidentally, the Government would get all of that money back within 16 years because of the higher taxes and lower benefits the young people would subsequently pay and get through their better skills.