Higher Education Fees

I am grateful to the Secretary of State, but he knows that the central issue is the fact that the teaching grant is to be cut by 80%, the burden of which is to be transferred to students. That is justified by the Government's assessment of the scale of the deficit. Yesterday, in evidence to the Treasury Select Committee, the Chancellor of the Exchequer admitted that he is anticipating tens of billions of pounds of receipts from privatisations not included in the comprehensive spending review. What estimate does the Secretary of State put on those receipts, and to what extent have they been taken into account in his calculations of the scale of the deficit and the cut to the grant?