If the £3,000 top-up fees are introduced in 2006 the government will have to fund these sums for several years out of public money before the system becomes self funding. A simple progressive tax on high income earners will create enough cash to fund our universities now - and it is now that our education system desperately needs this money. A mere 3% increase in income tax on earners of over £100,000 a year will create enough cash now to make our higher education system what it should be, instead of a 50% income tax levied on graduates who earn over £35,000 a year.
Of the 300,000 people who earn more than £100,000 a year, 82% are graduates and this number is likely to increase in the coming decades; this is the most simple, effective and intelligent way in which we can fund our universities for the benefit of future generations. High income earners already receive tax incentives and other benefits from the government, a 3% increase will barely effect their disposable income, as opposed to taking half of everything a graduate earns once they reach a pay scale of over £35,000 who, to be frank, cannot be classed in today’s world as ‘high earners’.
The government needs to completely rethink the whole idea of how we can fund our higher education system and give both our students and universities a true alternative to this scandalous bill; I look forward to the 27th January when the government will be defeated by its own back-bench ‘rebels’.
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