Baroness Sherlock (Lab)

My Lords, one thing I want to say to any students or graduates out there is that the evidence shows that graduates are more likely to be in work, to be in higher-skilled work and to earn more. Graduates continue to experience higher lifetime earnings, and they are nearly three times as likely to be in high-skilled employment than non-graduates. Having said that, the most important thing is that young people get appropriate advice to choose the forms of study that suit them. This is not a message to say that people should leave school and go straight into work. We are increasingly going into an era when employers will need skills, especially in a world where AI could automate some activities but it could also augment others. We need people to have the skills, so I am with him about the need to get the right people going into the right kind of education and training. On the question of HE funding, the HE sector clearly needs a secure financial footing to face into the challenges coming down the track. We have therefore acted to increase tuition-fee caps for all HE providers in line with forecast inflation, but future fee uplifts will be conditional on those providers achieving a higher-quality threshold through the Office for Students.