Shadow Chancellor John McDonnell has issued a bold statement to the Conservative’s at this year’s Labour Party Conference, saying education should be a gift from one generation to the next and not a commodity to be sold.
The MP for Hayes and Harlington reiterated Labour’s pledge to scrap tuition fees in today’s speech, pointing to the astronomical amount of debt university students are being saddled with when leaving university – some £57,000 under in many cases.
The Tories have tripled tuition fees during their time in government and allowed the Student Loans Company to hike up interest charges on loans.
According to McDonnell this has created a totally unsustainable situation where three-quarters of students will never pay back their loan, creating a burden for the taxpayer.
Watch McDonnell’s speech below:
Watch: Emily Thornberry takes aim at Boris Johnson with this paternity test troll
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .