Member

Take the example of a graduate earning £45,000 a year. Prior to this legislation, if they sacrificed £5,000 of that salary, they would save £1,000 in income tax, £400 in national insurance contributions and £450 in student loans—[Interruption.] Of course it is made up! The Minister is chuntering from a sedentary position, Madam Deputy Speaker. We cannot quite shut him up, but we will do our best. This is an important point. The Minister is not that good at maths, although I know he is keen on trying to look good at maths.