Finance campaigner Martin Lewis interrupted Kemi Badenoch's interview on ITV's Good Morning Britain to challenge the Conservative leader's plan to cut interest rates on student loans. Lewis, a money-saving expert, marched onto the set after disagreeing with Badenoch's claims that the policy would benefit all borrowers.
The Conservative proposal, announced overnight, would scrap above-inflation interest rate rises on Plan 2 student loans for those who started courses between 2012 and 2022. The change would be funded by cutting university courses deemed not to provide 'value for money', including potentially creative arts courses, as suggested by shadow education secretary Laura Trott.
During the interview, presenter Ed Balls questioned whether the plan only helped high-earning graduates. When Badenoch rejected this, Lewis began shouting from off-set before entering the frame to argue that lowering interest rates would primarily benefit those who could clear their debt within 30 years. 'Lower and middle earning graduates won't benefit from that change,' he said, advocating instead for raising the repayment threshold.
Badenoch insisted that 'everybody will benefit' and defended her plan as the first attempt to solve the issue. Lewis later apologised on social media for the interruption, praising Badenoch for handling it 'far better than I would have'. He requested a meeting to discuss the matter calmly, which Badenoch accepted, saying she 'love[s] a feisty debate'.
The exchange highlights growing political consensus that the current student loan system, where rising interest rates leave many graduates with little debt reduction, is unworkable. Labour MP Nadia Whittome recently noted that despite earning in the top 5% as an MP, her £49,600 debt had only reduced by £1,000 since leaving university in 2019.
