Angela Rayner MP, Labour’s Shadow Education Secretary, commenting on reports the Government are set to lose £800m from the private sale of student loans, said:

“This is just the latest evidence that the Government should abandon their privatisation of the student loan book.

“In the Budget, they promised to assess value for money before any sale. We now know that they have lost £800m of taxpayer’s money on this sale.

“This cannot possibly be value for money, and they should change course now before even more of our cash is wasted on their ideologically driven plans.”