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Student debt: Shadow Chancellor rows back on Jeremy Corbyn's pre-election pledge to 'deal with it' | Student debt: Shadow Chancellor rows back on Jeremy Corbyn's pre-election pledge to 'deal with it' |
(about 4 hours later) | |
John McDonnell has backtracked on Jeremy Corbyn’s pledge to pay off some historic student debt – downgrading it to an “ambition” for Labour. | John McDonnell has backtracked on Jeremy Corbyn’s pledge to pay off some historic student debt – downgrading it to an “ambition” for Labour. |
At the general election, the Labour leader fuelled a huge surge in support among young people by promising help for students stuck with enormous debts from tuition fees. | At the general election, the Labour leader fuelled a huge surge in support among young people by promising help for students stuck with enormous debts from tuition fees. |
Pledging to axe fees in future, he told NME magazine: “I don’t see why those that had the historical misfortune to be at university during the £9,000 period should be burdened excessively compared to those that went before or those that come after. | Pledging to axe fees in future, he told NME magazine: “I don’t see why those that had the historical misfortune to be at university during the £9,000 period should be burdened excessively compared to those that went before or those that come after. |
“I will deal with it.” | |
But Mr McDonnell, the Shadow Chancellor, has now acknowledged the expected bill – around £100bn – is “a lot of money”. | But Mr McDonnell, the Shadow Chancellor, has now acknowledged the expected bill – around £100bn – is “a lot of money”. |
He told the BBC’s Andrew Marr Show: “We will look at what we can do.” | |
Mr McDonnell added: “We are going to try to, it’s real ambition of ours – I don’t want to promise something we can’t deliver.” | Mr McDonnell added: “We are going to try to, it’s real ambition of ours – I don’t want to promise something we can’t deliver.” |
Last week, the Shadow Education Secretary, Angela Rayner, said it was Labour's "ambition" to write off all student debt. | Last week, the Shadow Education Secretary, Angela Rayner, said it was Labour's "ambition" to write off all student debt. |
However, she also admitted it was a “huge amount” and said the party would not commit to doing so “unless we can afford to”. | |
While Labour pledged to scrap university tuition fees in its manifesto, Mr Corbyn went further by suggesting existing debts could be wiped from the books. | While Labour pledged to scrap university tuition fees in its manifesto, Mr Corbyn went further by suggesting existing debts could be wiped from the books. |
The Greens were the only party to include a similar commitment in their manifesto. | The Greens were the only party to include a similar commitment in their manifesto. |
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