Growth

[Protheroe]

I see that Doctors and Teachers will be receiving above inflationary "growth" which the rest of us will be paying for.

It will be fascinating how Labour intends to fund this.

Also interesting to note there is price elasticity in the demand for private school places too. I'm sure the prevailing narrative on here was that wasn't the case. 13,000 children say different.

[Borin' Baggie]

The demand elasticity comments were made on the prediction of 35k privately educated students moving to the state sector, that's not how you measure demand though otherwise the decades of massive private school fee rises that have pushed middle class parents into being unable to afford school fees would have dropped the proportion of privately educated students but it's stayed constant and preliminary demand assessments suggest that is still the case in spite of a 22% rise in fees - because British private schools have international demand to pick up the slack.

[Protheroe]

Try telling that to the parents of 13,000 kids. Let's see how many it is next year and the year after.

[Borin' Baggie]

Given I've put it on the record that I don't support the policy, why? It being demand inelastic has nothing to do with public support.

[baggy1]

Probably worth getting the full facts rather than the partial figures Proth, the 13k figure comes from the ISC figure from 1380 schools rather than the full c.2500. There are also other factors in play here as shown by the immigration figures today. The stopping of family members from the start of 2024 will no doubt impact.

[Protheroe]

It's not demand inelastic for the parents of 13,000 children, no matter how you try to dress it up.

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Probably worth getting the full facts rather than the partial figures Proth, the 13k figure comes from the ISC figure from 1380 schools rather than the full c.2500. There are also other factors in play here as shown by the immigration figures today. The stopping of family members from the start of 2024 will no doubt impact.

When you have the full facts as to how above inflation pay rises and the rowing back on the WFA are going to be paid for please let me know. I'm busy offshoring at the moment.

[baggy1]

You're taking things a bit personally today, I'm merely pointing out your stats come from 1380 schools and not the full 2,500 and there are other factors at play.

[Borin' Baggie]

That's not what demand elasticity means.

Plenty of parents have been priced out of private school fees over the last 40 years, demand hasn't dropped. Demand not being affected by price changes make it demand inelastic.

[Protheroe]

That's not what demand elasticity means.

It's exactly what it means for the parents of 13,000 kids BB. They don't care for the Begg, Dornbusch & Fischer definition. I know some of them, do you?

[Gzbaggy]

That's not what demand elasticity means.

Plenty of parents have been priced out of private school fees over the last 40 years, demand hasn't dropped. Demand not being affected by price changes make it demand inelastic.

It would be interesting to know where private schools get their students from. I think you will find over the last 40
years most have increased the number of overseas students they get and these account for a significant percentage 
(well over 10%) of their intake. Having worked in the past on the education recruitment fairs circuit, you saw some interesting schools there. I do not think you can relate this to elasticity of demand as you are looking at different markets
and not "comparing like with like"