Liam Byrne MP, Shadow Minister for Universities, Science and Skills, commenting on the IFS’s report on the Government’s student finance system, said:

“The IFS have called it exactly right – the Tory-led Government trebled student fees but its system could end up costing the taxpayer more than the one it replaced.

“As the IFS is right to highlight, the only thing we’re guaranteed from this Tory-led Government’s university funding system is uncertainty. That’s uncertainty for students when it comes to their future prospects, uncertainty for universities as they look to plan for the long term and uncertainty for taxpayers who have been left picking up the tab for a failed system at a time when families are facing a cost-of-living crisis.”