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okay hi there and welcome to a quick Sydney optical vision video looking at some of the possible micro and macro economic effects of a cut in university tuition fees background little bit of background for you that tuition fees initially came in in 1998 they were initially 1,000 pounds per year paid upfront introduced by the Labour government they increased to 3000 pounds in 2006 its a system of variable deferred fees and tuition loans super loans was introduced the big change was of course in 2012 when the tuition fee cap was raised to nine thousand pounds per year its edged a little higher now to nine thousand 250 initially when the government bought the cap in or they lifted it to nine thousand they were hoping they would essentially create a market in fees where universities would compete with each other by different courses and by different situations in the events nearly all the universities charged the maximum fee theres actually no competition by price mostly competition th