Wednesday, August 27, 2008

HECS and beyond

Given that it seems the Government is comfortable grandfathering industry why not then guarantee loans for Social Good/National Need.

I refer to the HECS system in Australia whereby students may defer their tertiary study fees until an income point at which they must repay the debt through the Taxation System. Now there are some important factors in this system, such as the debt is indexed to inflation hence is not subject to interest and is only payable whilst the debtholder is earning above a threshold. This ensures that the individual can pursue whatever career they choose with a reduced upfront cost.

I propose that R&D companies and/or other social good/national need organisations be able to avail themselves of similar loans, which are only repayable via success... I would further challenge government to influence companies to invest in their own R&D through a Serendipity prize... but more on that to come...

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