The IoD report says under an open-ended system, a graduate tax becomes the student loan you never pay off and would be "a tax on effort and merit".

BBC: Graduate tax 'could hit UK's competitiveness'

He has devised a plausible alternative to the current open-ended, state-financed system: government-funded vouchers toward buying insurance.

ECONOMIST: Paul Ryan: The man with the plan | The

He is widely expected to undertake aggressive action that may include "open-ended" asset-purchase programs designed to push bond yields down, boost the supply of money in the banking system and spur lending to businesses.

WSJ: Investors Grab Japanese Shares