Who is XXXX? And how much have they cost the public?

The Alliance has released papers obtained under the Official Information Act that show that the government was seriously considering selling the student loans scheme as late as May this year at the request of financial institutions only referred to as XXXX.

The financial institutions have been writing to the government since October 17th 1996 about their proposals to securatise or sell the student loans scheme and are only referred to as XXXX in the papers.

The government in response has prepare d at least 13 separate papers or communiques concerning this subject, involving a wide range of officials from Treasury and the Ministry of Education.

'Why is Max Bradford refusing to say who he was dealing with if he is not selling the student loans scheme? ', Alliance Education spokesperson Dr. Liz Gordon said.

'If he really was not going to sell the student loans scheme why doesn't he come clean with the name of the financial institutions who cost the tax ! payer all this work for nothing?

'Max claims that answering a simple parliamentary question costs as much $75, how much did all this advice for the XXXX group cost?'

The securatisation of student loans was first looked at 5 days after the last election.

Three years and thousands of hours of work by Treasury and the Ministry of Education has been undertaken, all at the request of this mysterious XXXX.

'If this XXXX is a potential buyer of the student loans scheme it is appalling that they h ave been able to pressure the government into doing so much work on an idea that this government claims it rejects.

'I suspect that the real reason for all this work is because this government is waiting for another three years in government so they can sell off the student loans scheme.

Max Bradford is just protecting the identity of a possible buyer,' Liz Gordon said.

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