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Labour’s tertiary bribe unprecedented foolishness - ACT

Posted on 27 Jul 2005
Labour’s attempt to outbid National by slashing the interest off student loans for people who stay in New Zealand will encourage students to get deeper and deeper into debt, ACT Leader Rodney Hide said today.
“Labour’s existing policy of no interest while studying has seen the debt explode from $3 billion to $7 billion.
“Worse, the average debt has jumped 22% from $11,885 to $14,491.
“This is a bidding war started by National.
“It will cost taxpayers dearly and will leave students with massive debts
“What student won’t take out a loan to the max.
“The best thing Labour and National could do for graduates – indeed all New Zealanders  - is to give every hardworking Kiwi a decent tax cut now,” Mr Hide said.
Rodney Hide MP
Phone:            04 470 6630  /  021 772 385
Fax:                 04 473 3532
Michelle Brooker, Press Secretary
Phone:            04 470 6644  /  021 995 601