David Willetts, Minister of State for Universities and Science, has announced that there is now no age limit on student loans.
He underlined this fact as he suggested that those workers coming up to retirement age, or had been made redundant late in their working careers, should go back to university and retrain in order to get another job.
In so doing, he accepts that with the longer life span now being experienced, people will have to go on working to maintain a decent standard of living.
As ever with politicians, they have the habit of making headline statements without thinking through the implications.
By way of illustration, he is suggesting that somebody in their middle 50s to 60s should run up a tuition debt of £27,000, plus living expenses, in order to gain additional qualifications, and then go out into the market place to try and get another job.
Now as an employer, I am bound to say that I would almost certainly go for a younger person with the same qualifications. He or she would, potentially, give me a greater length of service, and almost certainly be fitter, not so likely to take time off due to illness.
The minister is quite right when he points to the fact that we must all work to a much greater age, as the nation cannot afford the burgeoning pension bills.
Present plans require everybody to work until 67 by 2028. Realistically, to provide a reasonable standard of living, by that time, the pension age should be 70 or even more.
I am absolutely convinced that the longer we are able to work, the fitter and more alert we shall remain. I worked full time until the age of 72, and for the last six years, have moved away from the front line of running my business, but still do at least 30 hours a week from home.
The one sure fire way to be able to control destiny is to run your own business. This entails worry, stress, and an ever continuing string of challenges. However, the reward is, I firmly believe, a healthier lifestyle, with both mind and body being stretched.
I appreciate that not all can do this, especially in this day and age, when the money-lenders are so reluctant to consider risk.
However, I am not convinced that Mr Willetts has got the right answer.
* Russell Luckcock is chairman of Birmingham pressings firm AE Harris
