Office for National Statistics (ONS) announced on 24 April 2018 that it would review the treatment of student loans in the UK government’s accounts. This is to ensure that the way these loans are treated reflects how the system works in practice as well as being in line with international best practice. This review followed recommendations from both the Treasury Select Committee and the House of Lords Economic Affairs Committee (PDF, 1.6MB).
Today ONS has announced its decision on how these loans will be treated. For full information on this decision and the likely timescale for implementation of the decisions please see our blog and article.