KWC fees.

[Banker]

12 minutes ago, Mr Helmut Fromage said:

The most mid Management statement I’ve seen in a while - I’m guessing Senior Relationship Manager at retirement age in high street bank (probably RBSI) never an important decision made in a working life in cheap suits.

Wrong person at wrong level, I’m way beyond your low ranking civil servant grade😂 My kids education is already paid for 😀

[Hairy Poppins]

2 hours ago, Two-lane said:

I save the state money by not getting the bus.

So by Banker's logic you should get some tax relief for that surely?

[Ringy Rose]

1 hour ago, Banker said:

An extra 300 or so pupils is not marginal cost, it would be substantially more than a share of the VAT take.

 

1 hour ago, Mercenary said:

Marginal when one child, not hundreds... At the margin could disproportionately affect some schools if class goes up from say 28 to 35 requiring splitting.

What, all 300 pupils would leave and would all go into the Manx state school system? Even the foreign ones?

Sure, Jan.

[Ringy Rose]

1 hour ago, Meoir Shee said:

What has been the impact upon the school roll of the 15% fee rise over the past 3 years?

It’s been much more than 15%.

£20k in 2021, £25k in 2024.

Funnily enough KWC parents- those who describe themselves as the squeezed middle despite being able to drop an average person’s annual income just on the fees- weren’t whining then.

[Mr Helmut Fromage]

1 minute ago, Ringy Rose said:

It’s been much more than 15%.

£20k in 2021, £25k in 2024.

Funnily enough KWC parents- those who describe themselves as the squeezed middle despite being able to drop an average person’s annual income just on the fees- weren’t whining then.

Less Range Rover envy and dyed blonde hair with big sunglasses passing through Ballasalla soon.

[Ringy Rose]

1 minute ago, Mr Helmut Fromage said:

Less Range Rover envy and dyed blonde hair with big sunglasses passing through Ballasalla soon.

If KWC shuts the parents will just spend the saved fees on another brand new white Range Rover Evoque and some new Turkish teeth. So we’ll get the VAT anyway.

Winner winner.

[x-in-man]

3 hours ago, Banker said:

Well parents are saving the state money by not using local schools so tax relief on fees seems a sensible option.

I’m saving the state  money by not having kids.   Where my fucking tax relief?  

[Non-Believer]

8 hours ago, Hairy Poppins said:

Having said that we have the same basic problem. We have too many people taking too much out and not enough people putting money back in. 

We have an additional problem too. We're hell-bent on increasing the numbers of the formers as well.

[Banker]

9 hours ago, Ringy Rose said:

 

What, all 300 pupils would leave and would all go into the Manx state school system? Even the foreign ones?

Sure, Jan.

There’s c550 pupils and c300+ local I understand 

[Chinahand]

My understanding is it is 325 down from 375 5-years ago. 

The school had a series of lay offs to reduce the losses but it is saddled with a huge maintenance/electric/heating bill etc.

It isn't unreasonable that a further 20% fee rise would see a similar number leave.

50 pupils = £1,000,000 fees a year. 

The result is the swing of the marginal cost roundabout... Most of the costs are fixed so it is difficult to compensate for the loss of income by reducing costs. 

It is touch and go whether the school will survive. 

It is an asset to the island. If just 4 people earning £1.5 million a year decide not to come to the island because it doesn't have a school they want then the VAT rise is basically offset by the loss of income tax. 

 

 

[The Phantom]

45 minutes ago, Chinahand said:

The school had a series of lay offs to reduce the losses but it is saddled with a huge maintenance/electric/heating bill etc.

You've got to wonder if it would be commercially more viable if it was in a modern complex.  The additional maintenance and inefficiencies of them essentially being in Hogwarts must be a huge drain on the finances. 

[HeliX]

1 hour ago, Chinahand said:

My understanding is it is 325 down from 375 5-years ago. 

The school had a series of lay offs to reduce the losses but it is saddled with a huge maintenance/electric/heating bill etc.

It isn't unreasonable that a further 20% fee rise would see a similar number leave.

50 pupils = £1,000,000 fees a year. 

The result is the swing of the marginal cost roundabout... Most of the costs are fixed so it is difficult to compensate for the loss of income by reducing costs. 

It is touch and go whether the school will survive. 

It is an asset to the island. If just 4 people earning £1.5 million a year decide not to come to the island because it doesn't have a school they want then the VAT rise is basically offset by the loss of income tax. 

People "earning" 1.5m a year aren't paying income tax on it because they won't be taking it as income.

[Chinahand]

Gawd, 2 minute back of the envelope calculation can be criticised for being simplistic. Gosh. 

Big picture If something like just 4 millionaires move their family offices off the IOM because they want a traditional public school education for their little darlings then the gains from VAT will be more than offset. 

I'm attempting to put the issue into perspective. 

 

[Chinahand]

KWC is an asset for the island for all the class war sneering. 

[Albert Tatlock]

8 minutes ago, Chinahand said:

KWC is an asset for the island for all the class war sneering. 

Yeah maybe...but there's a few KWC ass sets working in government - employed beyond their abilities.