Today Ed Miliband has pledged that, if elected in May, a Labour government will reduce tuition fees by £3,000, beginning in 2016.
Young people in Manchester Central have been betrayed by the Tory and Lib Dem government. From the closing of sure start centres and the trebling of tuition fees through to declining training opportunities and rising housing costs. No generation has been dealt as bad a hand by their government as young people today.
Today the average graduate in Manchester is leaving university with more than £44,000 of debt. That’s far more than the average income in the country. Three quarters of young people won’t be able to pay off that debt even as they head towards retirement.
“Manchester Central has one of the highest student populations in the country, thousands of young people who have been failed by this current government. That’s why I’m proud that Labour have committed to reducing tuition fees from £9,000 to £6,000 from 2016 and ensuring young people have the best possible start to their adult lives. We all want our children and young people to succeed in the future. Under this government, they are being badly let down but this won’t happen under Labour. We will ensure that the next generation isn’t left behind. ”
The average reduction in the debt will be around £9,000 per student. It will benefit those starting their courses next year and it will benefit students already in university.
Labour will also increase student grants by £400, so that the full grant increases from around £3,400 to around £3,800, benefiting all students with a household income up to £42,620. More than half of students will benefit.
This year’s election is a clear choice between another five years of Tory cuts and a Labour government that will clear up the mess of the tuition fees system left by the Coalition government. Labour will ensure that all young people are equipped to fulfil their potential and succeed in the future. This will form part of Labour’s Young People’s Guarantee, including apprenticeships and a Compulsory Jobs Guarantee funded by a Bank Bonus Tax.
You can read Ed’s speech outlining Labour’s plans for a better future for young people here.