My Lords, I support the amendment and the powerful speeches made by the noble Lords, Lord Sharkey and Lord Sheikh. I am staggered to be reminded how long this has been going on for and the difficulty with which Government seem to be approaching this issue. Nothing should stand between the young and their education. I fear that the lack of a sharia-compliant scheme may bear particularly hard on young women. It is not unknown in communities such as my own Scots family for the men to get first crack at the money and the women to follow. It would not surprise me, I fear, were the same still the case.
The real point is that we can do sharia-compliant finance. Twenty years ago, when I was in the City, we did sharia-compliant finance and made money out of it. It strikes me as staggeringly ungracious of us not to have made the student loans scheme work when we have profited from similar schemes as a country. I support the amendment.
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