Jack Rankin

I do not want to talk about each plan individually, but this does need to be looked at in the round, as the hon. Lady is quite right to say. Returning to the hon. Member for Ilford South, I am glad that he recognised—which some of his colleagues did not—that the beneficiaries of student loans should be asked to contribute. He called for fairness. I agree with him that, as it stands, the balance is not quite right. To my mind—the hon. Member for York Outer (Mr Charters) spoke to this—the main issue that we have seen is the breach of the promise on thresholds being frozen and on interest rates being increased. I acknowledge that we did that in government, but it has happened most recently in the recent Budgets. That is morally indefensible. The hon. Members for Leeds East (Richard Burgon) and for York Central (Rachael Maskell), who I do not think are in their places anymore, made similar contributions from a left-wing point of view. I gently suggest that the mechanisms for mass debt cancellations, or even more, what they call “progressive taxation”, is not where we need to be. I am afraid I consider that to be the politics of the magic money tree. When we look at what is happening, one of the things that graduates are upset about is the unreasonable marginal rates of tax that they face as graduates when the student loan is included. More so-called “progressive” marginal rates of income tax would be part of the problem, not part of the solution. I am aware that many a Conservative ex-Minister has stood at the shadow Dispatch Box and criticised the Government for things they themselves were doing in the recent past, so I say this with some self-awareness, but I say to the hon. Member for Eastbourne (Josh Babarinde) that the Liberal Democrats have to be careful on this issue—the faces on the Government Benches when the Liberal Democrats made some of their remarks were quite the picture. The hon. Member for Dulwich and West Norwood (Helen Hayes), who I believe is the Chair of the Education Committee, made a fair point about the balance in education between economic outcomes and the broader social good of education. I agree with her that the case for education is broader than just economic, but I suggest that there is a balance. We have to be careful about whether it is progressive to send working-class children on university courses that will laden them with debt, but not provide them with the economic outcomes that they might need. There is a balance there to tread. My hon. Friend the Member for Chester South and Eddisbury (Aphra Brandreth) talked about the nuance here, between the oppressive interest rates and the 30-year repayment threshold.