LABOUR plans to scrap thousands in university tuition debt if they get into power.
John McDonnell said today that student fees need to be “looked at” – dropping a big hint that those who have accrued the bills could have them written off if Jeremy Corbyn gets to No10.
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The Shadow Chancellor said: “Our policy is to scrap tuition fees – that will be in the manifesto.
“The debt that’s been piled up already, they have got a problem here we all have to accept.
“Large amounts of that debt is not being paid off.
“The system is, as a number of us did predict. It did not work.
Some Government has got to sort this out. It’s an issue that’s got to be addressed by whoever is in Government.
John McDonnell
“There is, I think, an approach that has to be taken that looks at existing debt. We are going to be looking at that in the coming weeks.
“Some Government has got to sort this out.
“It’s an issue that’s got to be addressed by whoever is in Government.”
COST OF LABOUR
But the Tories have claimed Labour’s radical election pledges will cost average Brits £11k from their pensions.
Renationalising Britain’s major industries and dishing out free broadband have been key parts of Mr Corbyn’s campaign.
Tory ministers believe this could lead share prices in major companies to plummet – hitting the retirement savings of 10million people.
Treasury Minister Simon Clarke said: “Corbyn’s Labour have revealed their true colours. They want to stop people from passing on their family homes to their children after they die.
Their plans would not hit billionaires – they would overwhelmingly hurt hard-pressed families.
Simon Clarke
“Rather than helping people to succeed, they want to take away your family home in higher taxes. Their plans would not hit billionaires – they would overwhelmingly hurt hard-pressed families.”
But in a speech today Mr McDonnell will accuse the Tories of siding with “the billionaires, the bankers and big business”.
Speaking in London, he will say: “No one needs or deserves to have that much money, it is obscene.
“It is also obscene that these billionaires are buying access and tax breaks to Boris Johnson’s Conservative Party.
“We know whose side Boris Johnson is on – the billionaires, the bankers and big business.
“Jeremy Corbyn and the Labour Party are on the side of the people, offering real change for our country, putting wealth and power in the hands of the many, not the few.”
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