logo
UK private school fee tax riles sector as foreigners mull options

UK private school fee tax riles sector as foreigners mull options

Nikkei Asia4 days ago
Queen Margaret's School in York, England, is one of 44 private schools that have announced their closure after the British government imposed a tax on fees. (Photo by Queen Margaret's School)
CLEMENT NGU
LONDON -- Andrew Wong was all set to send his daughter to Queen Margaret's School for Girls, a boarding school in York, hoping that the 43,000 pounds ($57,617) he would pay in annual fees would provide her with a better education than any school in Hong Kong.
But in June, three months before the start of term, he received a letter informing him that the school would close after 125 years.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UK to Create New Water Regulator Amid Crisis at Thames Water
UK to Create New Water Regulator Amid Crisis at Thames Water

Yomiuri Shimbun

timea day ago

  • Yomiuri Shimbun

UK to Create New Water Regulator Amid Crisis at Thames Water

LONDON, July 21 (Reuters) – Britain will create a new powerful regulator for its water industry following public fury over sewage spills, accepting the key proposal of an independent report that also suggested easing up on pollution fines to prevent companies from collapsing. The Labour government, which promised major reforms for the debt-laden industry when it was elected last year, said the new system combining several different regulators in one would better protect the environment, investors and consumers. The privatized water sector in England and Wales has sparked a public outcry by dumping record levels of sewage into rivers and lakes following years of under-investment, at the same time as paying big executive bonuses and dividends. But the government faces a tricky task in turning round an industry where high debts have left some companies struggling for survival. Symbolizing the failure of the sector, Thames Water, the country's biggest water supplier with 16 million customers and 17 billion pounds ($23 billion) of debt, is teetering on the brink of nationalization, and warning that it cannot pay the sewage fines it is facing. Former Bank of England Deputy Governor Jon Cunliffe, who led a review of the sector published on Monday, said a new powerful regulator should replace several bodies and that a formal turnaround regime should be established to give struggling companies space to recover under 'regulatory forbearance.' Environment minister Steve Reed said he had agreed to abolish financial watchdog Ofwat as part of the regulatory overhaul, with a new consultation and legislation to be proposed later this year. But asked if Thames Water could be given breathing space on fines – a key demand of its bondholders who have proposed taking over the company in a last ditch effort to avoid nationalization – Reed said the current legislation did not allow for that. 'We're going to publish a white paper in the autumn, which will be our response to Jon's report today, and then consult, but as things stand, Thames need to resolve the situation themselves as a stand-alone, private company.' Thames Water has warned it could collapse next year without new investment, as it faces 1.4 billion pounds in pollution fines and penalties over the next five years. INDUSTRY RESET While Cunliffe's proposals are the biggest shake-up of the sector since it was privatized in 1989, critics said they did not go far enough. Environmental campaigners want more radical change, such as the whole industry nationalized. 'Abolishing Ofwat and replacing it with a shinier regulator won't stop sewage dumping or profiteering,' said Giles Bristow, the CEO of campaign group Surfers Against Sewage. Cunliffe's remit did not allow him to consider nationalizing the water sector. Reed said that would cost 100 billion pounds, take money away from health and education, and lead to legal battles that would delay any improvements. Under plans already set out by Ofwat, British water companies will get more than 100 billion pounds of investment in the next five years to respond to population growth and climate change, funded by an average 36% increase in customer bills – a huge rise that Reed told reporters was a one-off. On Thames, Reed said the government was prepared for special administration – a form of temporary nationalization – but that would put Thames's debt on the national balance sheet, a situation it can ill afford. 'My hope and expectation is that the creditors will come to an agreement themselves,' he added. A source close to a Thames bondholder welcomed the recognition that regulatory support was required.

UK private school fee tax riles sector as foreigners mull options
UK private school fee tax riles sector as foreigners mull options

Nikkei Asia

time4 days ago

  • Nikkei Asia

UK private school fee tax riles sector as foreigners mull options

Queen Margaret's School in York, England, is one of 44 private schools that have announced their closure after the British government imposed a tax on fees. (Photo by Queen Margaret's School) CLEMENT NGU LONDON -- Andrew Wong was all set to send his daughter to Queen Margaret's School for Girls, a boarding school in York, hoping that the 43,000 pounds ($57,617) he would pay in annual fees would provide her with a better education than any school in Hong Kong. But in June, three months before the start of term, he received a letter informing him that the school would close after 125 years.

Trump to visit Scotland, where his family has golf courses, and talk trade with Starmer
Trump to visit Scotland, where his family has golf courses, and talk trade with Starmer

Japan Today

time5 days ago

  • Japan Today

Trump to visit Scotland, where his family has golf courses, and talk trade with Starmer

President Donald Trump speaks during a ceremony to sign the "Halt All Lethal Trafficking of Fentanyl Act," in the East Room of the White House, Wednesday, July 16, 2025, in Washington. (AP Photo/Evan Vucci) By WILL WEISSERT President Donald Trump will head to Scotland next week, visiting areas where his family owns two golf courses and is opening a third, and will meet with British Prime Minister Keir Starmer to discuss trade ahead of an official state visit to Britain in September. Trump's trip from July 25-29 will see him visit Turnberry, home to a historic golf course and hotel he bought in 2014, and Aberdeen, where one Trump golf course has operated since 2012 and a new one is set to open in August, the White House said Thursday. During the trip, Trump plans to meet with Starmer to 'refine' a previously announced trade deal, press secretary Karoline Leavitt said. Trump himself had previously said he'd be discussing trade with Starmer and said those talks would take place at 'probably one of my properties" in Aberdeen, but the White House hadn't previously announced the trip. The White House hasn't commented on whether the Republican president plans to golf while in Scotland, though he played his Turnberry course during his first term in 2018, ahead of traveling to Helsinki, Finland, for a high-stakes meeting with Russian President Vladimir Putin. The president's son's Eric and Donald Jr. are now running the family business, The Trump Organization, while their father is in the White House. During her briefing with reporters, Leavitt also said Trump and first lady Melania Trump will travel to the United Kingdom from Sept. 17-19 and meet with King Charles. That trip had already been confirmed by Buckingham Palace and will mark Trump's second state visit to the United Kingdom after he first had one in 2019. No U.S. president had previously been invited for a second state visit. 'He is honored and looking forward to meeting with his majesty, the king at Windsor Castle,' Leavitt said. Trump's first golf course near Aberdeen, International Golf Links Scotland, is set to host an event on the European tour, the Scottish Championship, from Aug. 7-10. It will be the first time the course has staged a European tour event, though it held a tournament on the seniors' tour in 2023 and 2024 and will do so again this year, the week before the Scottish Championship. Located on the Ayrshire coast, around 200 miles (320 kilometers) southwest of Aberdeen, Trump Turnberry is one of 10 courses on the rotation to host the British Open — the oldest of the four major championships in men's golf — but hasn't staged that event since 2009, before Trump bought the resort. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store