A $14 billion bribe!

Stuff reports:

Free tertiary education and a universal student allowance could be delivered immediately if they were prioritised over tax cuts, the Internet-Mana Party says.

Details of the party’s free tertiary education policy have been released, which it says would stop the growth of the level of student debt – currently more than $14 billion.

Co-leaders Laila Harre and Hone Harawira said the policy was aimed at increasing New Zealand’s knowledge base without crushing students, parents and graduates under a mountain of debt.

Internet-Mana has pledged free education at public institutions and a universal student allowance.

It would also increase the earnings threshold that triggers compulsory repayments, and write off debt for those on parental leave for up to a year at the rate they would have repaid it if they had been earning.

A shortfall in employment over the summer period when students are not at university would be addressed through the establishment of a summer jobs programme.

Details of a debt forgiveness programme would be developed, with funds already tagged to progressively write off existing student debt.

So they would write off all existing debt progressively, and also provide free allowances and tuition to everyone who wants it.

Taxpayers’ Union spokesman Ben Craven said writing off student debt would benefit professionals such as lawyers and doctors who had large student loans, but were also likely to be on good incomes.

Forgiving the entire amount of student loan debt currently owed would cost an average of $8374 per household, and was likely to be more expensive than the election policies of all the mainstream political parties combined, Craven said. 

Imagine how high the tax rates will be to fund all this.