4. MOANA MACKEY (Labour) Link to this
to the Minister of Finance
What reports, if any, has he received indicating support for the interest-free student loan policy?
Hon Dr MICHAEL CULLEN (Minister of Finance) Link to this
I have seen numerous reports indicating support for this policy, and I was surprised, but delighted, to see a report today also indicating support for the policy from the National Party. I welcome National’s conversion to yet another policy of this Labour-led Government, even if it has not yet been consulted on by the National Party caucus.
Hon Dr MICHAEL CULLEN Link to this
I have seen reports from the same source describing the policy that is now supported as ill-considered and poorly designed, and “an irresponsible election-year bribe”. But given flip-flops over KiwiSaver, Working for Families, 4 weeks’ annual leave, income-related rents, and climate change, nothing should surprise us, even when none of it seems to go near the National Party caucus first.
Hon Brian Donnelly Link to this
Would it not be fairer to the taxpayer if student loans had a consumer price index interest rate so that students would be required to pay back the real value of their loans rather than being given a monetary handout that the interest-free policy effectively provides?
Hon Dr MICHAEL CULLEN Link to this
No, I think what we now have is a scheme that is fair to all and that serves to encourage involvement in tertiary education, particularly in those higher-cost courses at the upper end of the system.
Te Ururoa Flavell Link to this
Tēnā koe, Madam Speaker. Kia ora tātou. What investment will the Minister make towards reducing student debt, particularly in light of the 2006 report of the UN special rapporteur, which stated that the “Māori students in tertiary education of Aotearoa complained to the Special Rapporteur that a limitation to their progress to higher programmes in tertiary education is the high burden of student debt and decreasing public funding to support Māori students.”?
Hon Dr MICHAEL CULLEN Link to this
There is certainly not decreasing public funding to Māori students; I am not surprised the UN special rapporteur managed to come to that conclusion—he managed to come to a number of conclusions that I do not find justified by the facts.