Skip to main content

Student Finance - the Options

Regardless of reports in the press, I have not yet made up my mind as to which way to vote. I cannot practically do this until the government has produced any proposals. However, in terms of the debate some things are clear:

Ideally tertiary education should be funded directly from general
taxation. That is not an option so there are various options.

1. Up front fees.
2. A graduate tax (an open ended tax)
3. Up front fees with an option of the government providing a loan
4. A scheme which shares the burden between graduates on the basis of
their earnings (not their parents' wealth), but which is not an open ended
"pure" graduate tax.

What would you pick?

I think the fourth option is the fairest (or most socially just) because it shares the cost of tertiary education between graduates on the basis of the income of the graduates.

This does, however, require the option of an up front payment without penalty being removed. It also requires more work on the calculation of the net present value of the graduate's contributions. I have done some initial work and although some graduates would pay nothing, Quite a few would have a net present value of something like 5K. However, there are questions as to what happens as people go up the income scale.

The graduate tax itself causes financial problems as it does not provide the cash today, but a gradual increase and we (the UK) need the cash today.

What option 4 does is package together students for financing purposes where some make greater contributions and some make lesser contributions.

Comments

Popular posts from this blog

Millionaires and politics

The Labour Party spent most of the last election criticising me for being a successful businessman (aka millionaire). That is business in the private sector employing over 250 people. It is worth looking at the situation for the Labour Candidate now:

For the year 2016-7 Annual Income from Parliament74,962Specifically for her book51,250Other media income etc5,322.82Total declared income131,534.82

Traditionally anyone with an annual income of over £100,000 has been considered to be a millionaire. I did not use my position in parliament to increase my income.


I have been asked for sources for this. This BBC piece looks at how one should define rich. It was written in 2011 so the figures will be slightly out of date. There are perhaps 2 relevant pieces:
"In 1880 a rich person would have had £100,000 in assets or an income of £10,000 a year, he says. About a hundred people a year died leaving £100,000 and by 1910 this was 250 - "a microscopic fraction of the number of death…

Homelessness vs Selling Books

Candidates in elections tend to find themselves very busy with lots of things to do.  It is, therefore, necessary to prioritise things to ensure that the important things are dealt with.

To me the issue of homelessness and rough sleeping is an important issue.  Therefore, when Birmingham's Faith Leaders group contacted me to ask me what I would propose and whether I would work with them to make things better I was pleased to respond with my views and indicate that I would work with them after the election.

The Faith Leaders Group (Bishops and other religious leaders in Birmingham) have now sent out their report.

Sadly, according to their report,  I was the only candidate for Yardley to respond.  The group in their report said:

"Particularly disappointing was the lack of response from some of those candidates seeking re-election as MP for their respective constituencies."
It is worth looking at the priorities of my opponent.
Interestingly today she has decided to be at th…

Gender Issues comparison of candidates

John Hemming believes that an MP should represent everyone in their constituency.  This should be regardless of their race, religion, gender, abledness, sexual orientation or anything else.  It should be everyone.

When he was an MP he worked on issues relating to men, those relating to women and those relating to non-binary people. Everyone.

For example here is John Hemming on a demonstration outside the courts with the campaign group Women Against Rape (it related to the case of a mother who had her child removed from her because the mother was raped).




Jess Phillips, who campaigns on women's issues, notwithstanding the questions asked about her appointments in her parliamentary office, had the following response when asked for a debate on issues specifically relating to men: