My hon. Friend makes another important point, and it leads me incredibly nicely to the point that I was just about to make.
I understand the motive behind the Labour party’s desire for 50% of young people to go to university. It was not a malign motive. Labour believed that that was aspirational and that it would help us compete, but it has clearly had a number of negative consequences. One of the most important—this goes to my hon. Friend’s point—is that we have told people, “The most important thing you can do is go to university at 18. It doesn’t particularly matter where you go to university or what you study. The most important thing is that you go to university, because we want all young people to go to university.” Thanks to a whole range of organisations, including the Institute for Fiscal Studies, which has done great work on this issue, we now know that people who graduate from a number of institutions will earn less than they would have done had they just got a job. In 2020, the IFS found that about 20% of people who go to university—one in five—earn less than people with similar grades who just get a job.
We might dislike that that is the case—we might wish that every university or subject gave people the same earnings outcome—but when I worked in this field, people could choose from 60,000 university courses, which of course do not all give the same outcomes. Certain universities—particularly Russell Group ones—give people higher earnings, as do particular courses, such as medicine, engineering and maths. The charities I worked with overwhelmingly supported disadvantaged young people, and the truth is that it is usually those people who do not get the advice they need and who pay large amounts for courses that do not add to their employability outcomes. They do not get good information, advice and guidance at a young age from school or from parents, in the way that a middle-class child might. That is one big way in which the 50% target has prioritised quantity over quality.