UK government miscalculate student funding for next year
It has been revealed that due to a government miscalculation there is a £200 million shortfall in student finance arrangements which will mean that over 10% of student applicants for next year will be forced to pay more towards their education and expenses. However there is speculation that the £200 million shortfall will actually be used to part fund the massive rescue package recently announced by Gordon Brown.
This is a major embarrassment for Gordon Brown himself who was behind the new student funding arrangements and confirmed the figures, since proved incorrect, which have resulted in the shortfall. There is also a concern the government seem to be going back on one of their main policies which was the improvement in education throughout the UK.
Funding adjustments of this nature are set to become more commonplace as the UK authorities look to bring in as much finance as possible to cover enormous potential liabilities if the UK financial sector takes up every single funding arrangement on offer. It should be interesting to see this year's pre-budget report which is sure to make rather uncomfortable reading for Alistair Darling, a man who is himself on the rack.
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