Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

More Student Debt Under Labour

Hon Max Bradford
Minister for Tertiary Education

MEDIA RELEASE
October 31, 1999

More Student Debt Under Labour

It is a sign of panic when Labour MPs try and make a story out of back-of-the envelope guesswork, Tertiary Education Minister Max Bradford said today.

Mr Bradford was responding to Labour education spokesman Steve Maharey's comments on a speculative media article about future student loan interest rates.

"The Government has announced changes that will effectively cut interest rates from the current 7% to 5.7% next year for students who are studying.

"The future course of student loan interest rates will be determined by the next government.

"The National party has already announced the formula for setting annual rates is under review," Mr Bradford said.

This was announced in the Bright Future Package on August 18.

"Until the reviews of the formula and the interest rate are complete, claims that rates will go up or down are pure speculation.

"Labour's policy of removing all interest on student loans while studying would see debt skyrocket. Students would hardly say no to a free loan and would end up borrowing more.

"And what is more, once students start full-time jobs many would face higher taxes as a reward for their hard work.

"Labour's policy would allow most students to repay loans only one or two years earlier, but they would have to pay higher taxes for the rest of their lives," Mr Bradford said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election