Tuesday, 22 September 2009

The value of University Education - is it a myth?

I doubt that the increase in University places translates into 'better jobs' for the majority - regardless of the truth by repeated assertion spouted by the government, Universities and so called business leaders. What we are creating here is a system where ordinary individuals pay for their own apprenticeships so that business can bank the profits. Very simply if University was such a good investment that the majority would get a much higher paid job because of it, then it would make sense for the Government to invest in it fully - because it would get much more back in increased taxes later on from the higher wages earned. Apparently we can borrow billions to bail out bankers, but when it comes to investing in the future skills of the country we can't afford it. The current system and the proposal is essentially another tax rise by stealth using a straightforward front loading mechanism. Why not just put an additional income tax band in at the income level of a 'graduate job' and have done with it?