Supporting young people in Morley & Outwood

As a constituency MP here in West Yorkshire, I know how worried school leavers and parents across Morley and Outwood continue to be about their kids starting their adult life burdened by so much debt if they choose to go to university.

Chatting with first time voters in Morley town centre about Labour's pledges for young people

And as Shadow Chancellor, I am equally worried about the debts the current system is racking up for future taxpayers.

Because, this government’s current system is not only bad for students it’s truly bad for the public finances too. Students are graduating with a bigger burden of debt and that’s leading to higher national debt too.

So Ed Miliband and I will cut the fees cap to £6,000 from September next year. And we will raise the maximum maintenance grant by £400 a year too.

Our plan is fully costed and fully funded. Unlike the Tories we won’t make promises without saying where the money is coming from. And unlike Nick Clegg and the Lib Dems we will not make promises we cannot keep.

We will pay for it in a fair way by limiting the tax breaks which go to the richest in society.
People earning over £150,000 will get the same rate of tax relief on their pension contributions as basic rate taxpayers. And we will continue what this government has done in reducing the lifetime and annual allowances. With our plan people will still get tax relief on pension contributions up to £30,000 a year and up to a pension pot of £1 million.

Our fully funded plan will cut the debt burden on students. And it will reduce the national debt by £40 billion by 2030. It’s the right thing to do – for students, graduates and taxpayers as a whole.

Labour’s better plan means thousands of young people here in West Yorkshire can get an apprenticeship or make the decision to go to university based on their talents, their hard work and their aspirations and knowing they will have a higher grant and less debt.

And it will mean that local taxpayers will not have to pick up a growing future bill to pay for it.

This month Labour has been focused on education and young people:

- Capping class sizes for 5, 6 and 7 year olds

- Protecting the whole of the education budget from the early years through to school and college education

- Guaranteeing an apprenticeship to every 18 year old who gets the grades

And now backing local students and universities too.

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Posted March 2nd, 2015 by Ed