YET MORE financial pressures may be placed on parents, says a report in the FT this morning, as gove...
YET MORE financial pressures may be placed on parents, says a report in the FT this morning, as government is planning to publish proposals next month which will force well-off parents to hefty top-up fees if they want to send their children to study on popular university courses.
Proposals for an English market-based fee system will be included in a consultation paper on higher education after Downing Street signalled its support for the idea.
The new fees - to be decided by universities - would have to be paid on top of the standard £1,000 fee and would be charged on individual subjects.
Under one funding model, poorer parents who earn less than £30,000 would pay no top-up fees. A sliding scale would run to those on about £50,000, who would pay full fees. Ministers believe a group of top universities is ready to back the plan if the current fee cap is lifted.
LAWYERS leading a £100 million class action on behalf of stricken split capital trust investors said in Edinburgh yesterday they will put evidence of a conspiracy before MPs on 29 October, says the Scotsman.
Stephen Alexander, a partner in solicitors firm Class Law, told a meeting of split trust victims he plans to present "strong" evidence before the Treasury Select Committee meeting on 29 October . He says the evidence will show detailed cross relationships between the directors of several split trusts.
An estimated 50,000 investors have lost millions of pounds in split trusts. Over the year 19 split trusts have collapsed, with seven falling into receivership - most leaving shareholders with nothing of investments which they thought were low risk.
The debacle, chronicled here for more than a year and highlighted in a BBC special Moneybox programme on Wednesday, saw four trusts managed by Aberdeen Asset Management (AAM) crash into receivership.
THE FT leads with a story which says Romano Prodi, the president of the European Commission, has created another gaffe and labelled the economic rules underpinning Europe's single currency as "stupid".
His comments could mark the beginning of the end for the EU's stability and growth pact, which imposes limits on government budget deficits and borrowing across the eurozone.
They will also fuel the debate about how EU member states will co-ordinate their economic policies. Mr Prodi wants the Commission to have more power to police and enforce the rules under which member states co-ordinate fiscal policy.
His remarks were seized upon on Thursday by France, which has challenged the pact's requirement that it cuts government spending during a time of sluggish economic growth.
LUGMAN ARNOLD, the former president of Swiss bank UBS, is today confirmed as chief executive of Abbey National, Britain's sixth largest bank, continues the FT.
The move will help bolster Abbey's case for remaining independent in the face of takeover proposals from Bank of Ireland and National Australia Bank, suggests the FT.
British-born Mr Arnold, who takes over at Abbey on Monday, will fill the position vacated by Ian Harley, who was ousted in July after losing investor confidence following a string of profit warnings.
From June 2019
11 years since launch of three Chartered titles
Hired 200 extra operational staff
Slow progress in improving diversity
Share purchase deal with assets of £28m