Gordon Marsden MP, Shadow Higher Education Minister, commenting on the Government’s announcement of a sale of part of the student loan book at an apparent loss of £800 million, said:

“Today’s announcement is proof that this Government is utterly incapable of getting a fair deal for taxpayers.

“In the last Budget Philip Hammond made clear that any sale of the student loan book would have to pass an assessment of value for money, and it tells you everything you need to know about this Government’s economic incompetence that they think a loss of £800 million is good value for money.”

“This sale will simply leave taxpayers worse off, as the Government desperately try to flatter their terrible record on our public finances.”