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In memory of Steen, The Odd Viking. You will be sadly missed. Our sincere condolences to Steen's family and friends. 

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Author Topic: UK Student loans  (Read 42 times)

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UK Student loans
« on: December 18, 2018, 04:16:44 PM »

Common sense strikes again  ;)  Student loans that will not be repaid, must now be treated as expenditure. Too many youngsters go to too many University's in my opinion. Perhaps if Govt. has to face the actual cost of this beano, things might change  ::)

''Philip Hammond is facing a £12bn hole in the public finances this year after changes to the way student loans are treated on the government’s books, reflecting that many will never be repaid. In a stroke of the pen from the Office for National Statistics, student loans will now be treated as part financial asset in the national accounts, because some will be repaid, while part will be classified as government expenditure, as some loans will never be paid back in full. It said it would result in the budget deficit – the annual gap between government income and expenditure – increasing by about 0.6 percentage points of GDP a year, which equates to about £12bn in the current financial year.

The changes are bad news for the chancellor because they wipe out all of the windfall from a better performance in the public finances this year handed to him by the Office for Budget Responsibility

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