Elvaston Castle and Country Park, in Derbyshire, has been working to establish through consultation, with a wide variety of communities of interest and partners, a clear ‘vision document’ for the Castle.
This has been achieved and now the Castle is looking to appoint a Chair of a new advisory Development Board, to prepare the estate for the next phase of its sustainable future.
Working with The National Trust, Derbyshire County Council have delivered a profile and terms of reference for the new Chair and the Development Board.
This Community Interest Company (CIC) has been established to play its own partnership role in developing and broadcasting news and information to the Elvaston community and its hinterland.
(Roger Moors of SEEM, has through his work with the community and DCC, as well as the Elvaston team, been instrumental in the creation of this new inclusive community presence, designed to inform everyone about the new future for the Elvaston Estate).
Roger H. Moors and Justin Beresford have recently published a new paper on Social Finance and Human Capital: the case for social investment in higher education. The paper presents an interesting argument, namely, that higher education offers the opportunity for private investment and hence that human capital can be viably classed as an investible proposition.
This is a new model of education. Making the process of investment in human capital a social finance initiative, which might offer tax incentives for pension fund investment, whilst reducing state spending on H.E. The model could offer real wage increases over time, enhancing the fiscal strength of generations in the future.
“The markets for both education and retirement planning are characterised by market failure and hence are dependent on state intervention. However, an ageing population and a commitment to make university the norm for most young people have led the state to withdraw wholesale funding.
This paper discusses the potential for social capital to be used as a funding mechanism for university tuition. A solution is outlined in which investor’s pension contributions are used to fund university tuition. Graduates pay a higher marginal rate of tax over their working lives and contributions are drawn down by retirees from these repayments. Wage growth over time, motived by induced investment in human capital, means that each successive generation is able to recoup more than it put in.
The external benefits outlined allow the facilitating institution to be classified as a social enterprise and hence investment is motived by tax incentives as well as the promise of high private returns”.
This is a timely paper. With some £9 billion spent on higher education in England, student debt and the future shape of university finances all currently in debate. It has been mooted that universities might, for instance, buy the student loan debt of their own students. Much criticism has been engendered, however, as some suggest this will lead the institutions to only take on low risk students from wealthy backgrounds. Further promoting social divide and a non-inclusive higher education process, as they reap the later financial benefits of students taking up highly paid careers as their lives unfold.
The Moors/Beresford thesis holds that benefits can be accrued from the creation of a ‘savings pension pot’, which could be used to fund university tuition fees. The model for a fully funded scheme sees investor savings used to invest in university tuition fees, rather than being invested in financial market instruments.
The graduating student will repay their tuition fees by accepting a higher rate of marginal income tax over a fixed number of years. The Moors/Beresford multiplier would kick in if the ‘…rate of growth of participating students earnings continuously outgrows interest rates’, leading to a continuously rising scale of skill and economic productivity to foster more growth for future generations.
Read the paper, join the debate, support a new model of education for future generations.
About the authors of this proposition:
Roger Moors is CEO at SEEM (Supporting Social Business) based in Nottingham. Researching the development of new models and applications for ‘social finance’ across a range of social and environmental issues.
Justin Beresford is an economic adviser at the Malagasy Ministry of Finance Department for Budget Programming and Coordination. He was an assistant economist at the UK Ministry of Justice (Analytical Services Directorate).
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A free panel debate: Friday 14th November, 2014 – 3.00 to 4.30pm, followed by an informal networking event at the Mezz Bar and Lounge at Broadway.
The event promises some great insights and conversations exploring if, and how girls and women are moving forward in the digital creative industries, with thoughts and opinions on overcoming potential barriers as a women starting out in the digital industries.
The event will be energised by a distinguished panel. Keynote speaker, Helen Darlington founded creative agency INK Digital . A Finalist for 2014 Digital Entrepreneur of the year; and winner of 2013 Female digital entrepreneur; Helen will be joined on the panel by Joy Francis Executive Director of Words of Colour Productions, and co-founder of Digital Women UK, Jo Welsh, Diversity and Inclusion manager at Creative Skillset, Annie Hayley Founder and Director of Nottingham based App development company Multipie, and Artist and Curator Candice Jacobs.
You can also visit the pages of the Projector Project too. Projector is Broadway’s Business support Programme for the creative and digital content industries, ‘…offering 1-2-1 business advice, business sessions and workshops and residency opportunities; the programme is funded by ERDF therefore participants do not have to pay for any of the business support provided’.
Friday 14th, 2014 – a diary date for all female creatives in Nottingham?
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