The main policy proposed aimed to address the problem of far more people taking degrees than the economy required, and yet still expecting a job at the end that pays additionally for the degree. It had two main sides.
Firstly, it is important to make prospective applicants aware of the employment opportunities available for their specific degree. There are few jobs that specifically require humanities and arts subjects, yet they are far more popular than science and math.
By making applicants aware of the employment prospects of their degree we can aim to give them more realistic expectations when leaving university. If they take a degree that is not in high demand that is fine, but they set themselves up for unemployment if they expect a far better paid job on the other side.
Secondly, there needs to be more of a limit on the numbers attending university. With the number of graduates going up employers increasingly demand a degree to get a job, whether or not it benefits the job, forcing more and more people to go to university.
Instead we need to look at who benefits most from a degree. More diverse forms of training need to be available, a degree being just one option of them. At that point we can offer degrees to those who are academically able, and likely to go onto academic jobs. At the same time we should be offering more substantial and flexible training qualifications for the service industry, for example.
The maximum potential of the economy is not found by training everybody academically, it is found by training individuals for what they are best at, so that they can go on to utilize their strongest skills in the economy.