Wednesday 22-11-2017 - 15:52
Chancellor Philip Hammond has presented his latest budget to Parliament. Here's what it means for students...
This autumn budget represents a missed opportunity for the Chancellor, who failed to address many of the key challenges facing students.
Here are some of the headlines from his statement...
An extra £20 million will help colleges implement T-Levels - although given the state of funding in FE and the huge changes involved, this is simply not enough.
Maths Pupil Premium
£600 will be provided for schools and colleges as a Maths Premium for every pupil who takes A-Level or Core maths.
A new £8.5 million national retraining scheme will be established - an announcement that doesnt go nearly far enough in addressing the crisis in adult education.
An extension to the Young Persons Railcard is welcome, but doesn't address the range of unaffordable transport that students deal with.
National Minimum Wage
The Chancellor announced small increases in the minimum wage but we continue to see under 24-year-olds paid less for the same work as their counterparts. The Apprentice Minimum Wage remainds appallingly low.
Student loan overpayments
The Goverment intends to make the Student Loans Company work better with HMRC when it comes to sharing data. It's vital that proper resource is put into the organisation to halt the increasing number of mistakes.
The housing announcements may be set to help those who are saving to buy a house, but do nothing to help those struggling in the rental market - like most students.
What does this mean?
This is yet another missed opportunity to provide students with the support they need. The Chancellor announced nothing on maintenance support for students across further and higher education, nothing on the rising cost of study and debt, and nothing to reimagine the funding of the education sector.
What happens now?
Over the next four days MPs will debate the different aspects of the statement. Each day of debate will cover a different policy area such as health, education and defence. Once the House of Commons agrees on aspects of the statement, proposals can come into effect immediately.
NUS will be producing resources for students and students’ unions so you can engage with the parliamentary process and with MPs to help shape the results.
Download our full briefing here.