Thursday 9 September 2010

The cost of austerity

There have been a lack of posts of a political nature on this blog recently, namely, on my part at least, because we've been sitting back and waiting to hear the consequences of our unprecedented coalition government.

I am not an economist so I cannot go into the details of the benefits vs the negative impact of reducing the budget deficit but I have noticed that many of the planned spending cuts are only going to cause harm. The people that we have elected are looking at things through a class-orientated window, unable to picture the lives of people in other circumstances to theirs and how damaging a signature or speech in the Commons will be.

I'm talking primarily about education. It is expected that the cost of tuition fees will up to double very soon. I understand the issue that a lot of money is being poured into universities and that needs to be reduced but this is surely the worse possible way of going about it. Tuition fees are the one thing that students in England cannot have any choice on (it is still unknown how Welsh and Scottish students will be affected) so this is the one thing which is going to create a barrier to all people pursuing further education.
Had accommodation or other optional costs been increased then less well of students would have the choice to look for cheaper non-university alternatives allowing the more affluent students to take the brunt of the costs. Another option, which has been proposed by the Business Secretary, Vince Cable, suggests a tax on students which varies depending on the quality of the degree and the income which is earned as a result of it. This way those who have studied Philosophy or art and get a salary of £20,000 are in less debt than the doctors and accountants who are earning £80,000.
A blanket debt of at least £40,000 is not a way to help the prosperity of our country. Surely this huge figure is going to stop students from poor backgrounds from applying altogether. It will also make it far less viable to study a subject at university which doesn't lead to a high paying job. In other words, as in every economically difficult time, the arts are going to suffer hugely. I feel that this increase is going to plant a debt on every person at the most economically unstable time of their life.
This is where I see the high brow condescending view from the politicians. This short-sightedness can only be from people who do not understand the damage of debt at a young age, from people who do not understand how people cannot find jobs and from people who have succeeded in life and suppose that everyone else could do the same if they just work hard enough.
This is a very sweeping comment on politicians. I know there are many who have a broader more caring perspective, one not driven by hard economics, but it seems their voices are being smothered by the shouts of the rest. It just seems like a step backwards in the development of our country; a falter towards Coketown or Victorian London.

For example, I am studying Philosophy and English this year. These are two subjects that have no set careers. Many people in my position must be reconsidering university altogether if furthering themselves comes at the expense of a life of debt

Can you put a price on broadening horizons, opening eyes to the mysteries of the world and developing individuals to rounded citizens? Yes, apparently. It's £7,000 a year