Scrapping fees massively benefits rich, according to prestigious think tank

A prominent Labour Party policy, the abolition of tuition fees, has been revealed to constitute a major financial windfall for the richest in society, according to prestigious and respected think tank, the Institute for Fiscal Studies.

Huge Bonus for Rich

In a report just released, the IFS said that the top 10% of earners would save as much as £60,000 from the move, while lower earners would not save nearly as much, putting a major hole in Labour’s claim that this would be a “progressive” move.

In addition to this, the IFS has shown through studies that the fee reforms in 2012 have actually made the poorest THIRD of students better off by a whopping £1,500, with university funding increasing by 25%, meaning considerably higher bursaries and scholarships for those from less well off backgrounds.

Jack Britton, author of the report, said that “proposals for reducing student fees tend to hit the public finances while benefiting high earners the most”.

Few, Not Many

This marks a major blow for the Labour policy, which now appears not only to benefit the rich the most, but even would make poorer students thousands of pounds worse off, according to the report. Critics have said that this makes it difficult to see how Labour can claim that this policy is progressive, when there are such clear and enormous financial benefits to the very well off.

One analyst said: “Labour claim to represent the many, not the few, but this policy would give tens of thousands to the few, while taking money from the hands of the many.”

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