Labour to fund tuition fee cut with pensions raid

Ed Miliband sets out his party's higher education policy.

The Labour party will pledge to slash university tuition fees in England by a third if it comes to power in May, in a speech delivered by Ed Miliband today. The decision comes despite earlier warnings from vice-chancellors that the policy could result in a “£10 billion funding gap”.

The policy to cut annual tuition fees from £9,000 to £6,000 would be funded by a reduction in tax relief on pensions for higher earners.