Transcript from Lords Economic Affairs Committee inquiry into the "Economics of higher, further and technical education" - Feb 6

The Committee is conducting an inquiry into the economics of higher education, further education and vocational training. The percentage of young adults (ages 17 to 30) estimated to participate in higher education has increased from 42 per cent in 2006/07 to 48 per cent in 2014/15. But excluding universities, there was a 26 per cent fall in adult skills and education between 2011/12 and 2015/16. There has however been substantial growth in the number of apprenticeships over the same period and the Government pledged to create three million apprenticeships by 2020.

The inquiry will investigate how post-school education is funded and whether it is focused sufficiently on the skills which the British economy requires.