Is it PotG?
Thrifty non-licker
Thank goodness Labour are doing everyone a favour then by raising fees.
Got something to say or just want fewer pesky ads? Join us... 😊
[Politics] The Labour Government
- Thread starter Super Steve Earle
- Start date
To repay the loan, you are taxed at 9% of your earnings above £25k, and it's written off after 40 years. It won't make any impact to the actual student. The Universities will be better funded. I guess in the end, the taxpayer ends up footing the bill, as they always did before tuition fees were introduced. How is this a bad thing, I'm genuinely struggling to work out what sort of wind up trip you are on?
Is it PotG?
Thrifty non-licker
I do have experience of the system, thanks for the info though.
You are Alastair Campbell and I claim my £5.
So, presumably you'd prefer the University system to shut down due to underfunding, then? Or take even more foreign students than they do now? Well done. clown.
Is it PotG?
Thrifty non-licker
Are you actually aware of the difference between a fee increase and the restructuring of loan repayments?
Is it PotG?
Thrifty non-licker
One of the UK's wealthiest people has called Labour's budget "spiteful" and warned the rise in inheritance tax on farms and family businesses will be the "death of entrepreneurship".
Sir James Dyson said the move was an "ignorant swipe at aspiration".
"Every business expects to pay tax, but for Labour to kill off homegrown family businesses is a tragedy," he wrote in The Times.
"In particular, I have huge empathy for the small businesses and start-ups that will suffer. Labour has shown its true colours with a spiteful budget."
Sir James Dyson said the move was an "ignorant swipe at aspiration".
"Every business expects to pay tax, but for Labour to kill off homegrown family businesses is a tragedy," he wrote in The Times.
"In particular, I have huge empathy for the small businesses and start-ups that will suffer. Labour has shown its true colours with a spiteful budget."
So far, no talk of changing the way the loans are repaid.
Is it PotG?
Thrifty non-licker
Indeed, so it's just a cost hike.
Is it PotG?
Thrifty non-licker
Looks like he's hoovered up quite a bit there.
So you're against funding our universities, then?
Is it PotG?
Thrifty non-licker
So, no I'm not.
Wasn't Sir Freebie recently in favour of ditching them though?
Wasn't Sir Freebie recently in favour of ditching them though?
Yes that one. They then had a business leader on the Today programme to talk about the budget who was largely positive, particularly because it was for long term benefit instead of short term politics for a change and fairly much laughed the Dyson chunterings out of the studio.
Good to see @Is it PotG? with his finger on the pulse though, posting this a good six or so hours after Today, having already double announced the fees increase.
Is it PotG?
Thrifty non-licker
They like putting VAT on tuition so that may well be coming for those over 18 as well.
Yes, I heard that interview this morning as well. At first I though he was going to go down the chuntering road, but it was a pleasant surpise when he veered off that particular bit of chumpery.
If that was the guy who is founder and CEO of AO, what I heard him say is that talking to fellow business leaders since the Budget, "for sure - the mood music has changed to conversions around taking people out (in favour of AI) and off-shoring."
He didn't seem overly positive or overly negative to me; just quite realistic and said we won't really be able to assess the budget until it is clear how the government spend the money raised through the additional taxation.
He didn't seem overly positive or overly negative to me; just quite realistic and said we won't really be able to assess the budget until it is clear how the government spend the money raised through the additional taxation.
AI will take more and more and more jobs - any excuse is welcome to employers tbh.
I am in a race between my retirement date and my AI makes me obsolete date. Retirement is around 10 years away, but I fear AI replacement will take me first. Musk reckons Artificial General Intelligence in 2 years. Even with a pinch of salt and a lag to rollout to my company, I may not make it to retirement without "career disruption".
Last edited:
Sadly, because the student loans company was privatised a while ago (because privatisation has proved such a resounding success elsewhere), students now have to pay interest on their outstanding loans.
If the loans company once again became a purely publicly-owned entity, the interest charged could be reduced or even set to '0', which would mean that even if the fees increased slightly, students would actually pay back less over 30 years; ie, just the fees, rather than fees + interest @ RPI + 3%.
Machiavelli
Well-known member
You're struggling big time and don't seem to understand things like inflation (you went very quiet on that particular topic when it soared ohh, just over three years ago). The fee increase is in line with the rise in inflation so, in real terms, the higher nominal charge is in line with the current one. This follows on from one increase in 14 years, which means that universities have been providing a service but receiving two-thirds in real terms than what it was back in 2011.
If any other business had to endure that, I'm sure you'd be along imputing it's all the new government's fault.
Last edited: