Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 

$7 Billion Debt Pays for Lower Taxes on Wealthy


$7 Billion Debt Pays for Lower Taxes on the Wealthy

The milestone of $7 billion in student debt is to be reached today.

This figure is a staggering indictment of the Labour government which is allowing its baby boomer generation to steal from the emerging generation.

Heavy debt is being piled onto our young people to pay for economic policies which have transferred wealth to wealthy New Zealanders and foreigners over the past 20 years.

Fully government funded tertiary education would have been possible from the profits alone of a single state enterprise which was privatised in 1990 – just as Labour and National governments were increasing student fees for tertiary education.

Since that time more than $12 billion in profit has been removed from New Zealand by the foreign owners of Telecom. This money alone would have fully funded tertiary education over the past decade.

This huge tail of student debt is now wagging the tertiary education dog and young New Zealanders are paying the price.

It is incredulous for Tertiary Education Minister Steve Maharey to say that “the student loan scheme is successful in allowing more young people into tertiary education”. The precise opposite is the case.

Labour has the opportunity to return to fully funded tertiary education with a $5.6 billion budget surplus last year and the upcoming budget is the opportunity to set the ground for this to be achieved.


© Scoop Media

 
 
 
Culture Headlines | Health Headlines | Education Headlines

 
Legendary Bassist David Friesen Plays Wellington’s Newest Jazz Venue

Friesen is touring New Zealand to promote his latest album Another Time, Another Place, recorded live at Auckland's Creative Jazz Club in 2015. More>>

Howard Davis Review: The Father - Descending Into The Depths of Dementia

Florian Zeller's dazzling drama The Father explores the effects of a deeply unsettling illness that affects 62,000 Kiwis, a number expected to grow to 102,000 by 2030. More>>


Howard Davis Review: Blade Runner Redivivus

When Ridley Scott's innovative, neo-noir, sci-fi flick Blade Runner was originally released in 1982, at a cost of over $45 million, it was a commercial bomb. More>>

14-21 October: New Zealand Improv Festival In Wellington

Imagined curses, Shibuya’s traffic, the apocalypse, and motherhood have little in common, but all these and more serve as inspiration for the eclectic improvised offerings coming to BATS Theatre this October for the annual New Zealand Improv Festival. More>>

ALSO:

Bird Of The Year Off To A Flying Start

The competition asks New Zealanders to vote for their favourite bird in the hopes of raising awareness of the threats they face. More>>

Scoop Review Of Books:
Jenny Abrahamson's John & Charles Enys: Castle Hill Runholders, 1864-1891

This volume will be of interest to a range of readers interested in the South Island high country, New Zealand’s natural environment, and the history of science. More>>

 
 
 
 
 

LATEST HEADLINES

  • CULTURE
  • HEALTH
  • EDUCATION