Influential positions across Oxford University’s public life are still held disproportionately by students educated at private schools, a Cherwell investigation has revealed.According to the most recent data made available by Oxford, 59% of all offers made to students studying in the UK went to state school applicants. Yet at Oxford, under half of the significant elected roles within student politics examined were held by students educated in the state sector.The disparity is most obvious at the Oxford Union, where 76% of elected officials – from the President down to Secretary’s Committee – were privately educated. Of the 14 most senior roles (Standing Committee and above) just one was held by a former state comprehensive pupil – President Chris Zabilowicz.Within college politics the gap was less pronounced, with 52% of JCR Presidents having attended a fee paying school. Similarly, there was a 50/50 split between state and private across the senior editorial teams of Cherwell and The Oxford Student.Student party politics, by contrast, appears to show a remarkable lack of of private school alumni when the two largest political societies are examined. Oxford University Labour Club’s elected positions were dominated by state comprehensive and grammar school educated students.Oxford University Conservative Association was the only body for which too little data could be found to draw any meaningful conclusions, with most elected members choosing not to reveal their former school on social media.Of the 69 significant figures selected, Cherwell was able to gather data on the school attended by 67. In virtually all cases claims made on Facebook and LinkedIn, or statements made by the school, were used to identify where they had previously studied.The data does represent a marked improvement from 2010, the last time an investigation into Oxford’s privately educated elite was conducted. Cherwell found then that almost 60% of JCR Presidents, 70% of University-wide society Presidents, and 80% of elected Union members were privately educated. At the time 55% of those admitted to the University came from state schools, with under 45% from independent schools.The figures will likely not be happy reading for University bosses seeking to change Oxford’s public image in the wake of David Lammy MP’s criticism of Oxbridge colleges as “fiefdoms of entrenched privilege”.Data obtained by Lammy through Freedom of Information requests established that in 2015 Oxford made 82% of its offers to children from the two top social backgrounds. More offers were made to students from Eton than to students on free meals from across the entire country.Class Act, an Oxford SU campaign set up to represent the interests of students of working class, low income, first generation, and state comprehensive backgrounds at Oxford, told Cherwell: “Representation of Class Act students within student organisations at the university is vital.“The dominance of students with privileged educational or income backgrounds in many of these organisations can be seen both as a reflection of the isolation Class Act students face at the university and as a reason why this isolation continues to exist.”
The minister said on Monday the central bank might also finance support programs for businesses and individuals, by buying bonds with a coupon rate of 1 percent below BI’s benchmark interest rate, which currently stands at 4.25 percent.According to the ministry’s official material presented to the lawmakers, the interest rate burden from government bonds caused by the pandemic will be Rp 66.5 trillion per year, with a yield assumption of 7.36 percent for the 10-year government bonds at the time. BI might bear Rp 35.9 trillion of the total burden, according to the finance minister.BI Governor Perry Warjiyo said the central bank and the government were in the final stages of the burden-sharing scheme, adding that it would maintain good-governance principles.“BI is ready to share the burden not only in the financing efforts but also those related to the debts,” Perry told lawmakers during the same hearing, adding that the scheme would ease the government’s burden from paying higher interest rates as a result of the widening deficit.The central bank has bought Rp 30.33 trillion of government bonds directly in auctions as a non-competitive bidder to help finance the budget deficit. It has also bought Rp 166.2 trillion of bonds in the secondary market to help stabilize the country’s currency.Previously, several lawmakers had called on BI to do more to share the government’s burden, urging the central bank to buy bonds with zero-coupon rates.“The burden-sharing scheme will help maintain debt stability and market confidence,” Permata Bank economist Josua Pardede said on Monday, adding that it would also lower the government’s burden amid the widening deficit and rising debt-to-GDP ratio.“This will also prevent interest payments from becoming too high, which will be a subject of evaluation by credit-rating agencies,” Josua said, warning that the agencies might downgrade the country’s rating if interest payments were higher than tax revenue.The government, he went on to say, should speed up government spending in a bid to bolster the economy, warning that slow fund disbursement might also hinder the economic recovery.Meanwhile, Center of Reform on Economics (CORE) Indonesia research director Piter Abdullah described the agreement as “too extreme” given the significant difference between the market rate of around 7 percent and the zero percent rate.“Although there are no notable risks, they should also have an agreement that if the central bank’s capital declines, the government should step in and inject liquidity.”Topics : Earlier this month, she stressed that zero-coupon bonds were not among instruments being discussed by the government and the central bank to be used to step up the country’s response to the pandemic, despite urging by lawmakers.The government has been struggling to finance the widening budget deficit, which is expected to reach 6.34 percent of gross domestic product (GDP), much higher than the previous legal limit of 3 percent. An emergency law signed by President Joko “Jokowi” Widodo in April gave a legal basis for the government to widen the deficit beyond the 3 percent limit.The government has now allocated Rp 2.74 quadrillion in state spending while state revenue is expected to amount to only Rp 1.7 quadrillion, according to the latest 2020 state budget revision as stated in Presidential Regulation (Perpres) No. 72/2020 signed last week.The government has allocated Rp 695.2 trillion worth of COVID-19 related expenditure to fund health care and boost the economic recovery. Sri Mulyani said on Monday the pandemic would force the government to spend around Rp 903.46 trillion, comprising Rp 505 trillion for public-welfare programs and Rp 397 trillion in support for the private sector, from the state budget. The government has opened the possibility of Bank Indonesia (BI) buying government bonds with a zero-coupon rate as part of a “burden-sharing” scheme to finance the battle against the COVID-19 pandemic, a senior minister said on Monday.Finance Minister Sri Mulyani Indrawati said the central bank might bear 100 percent of the coupon rate burden for bonds issued to finance programs that were considered in the public interest, including for health care, social protection and financial support for regional governments. She expected the programs to amount to Rp 397 trillion (US$28 billion).“We are currently finalizing with the central bank how many government bonds we will sell to the market and how many we’ll sell through private placement to BI,” Sri Mulyani told lawmakers during a hearing on Monday.
-GTTA given A+ for preparationELEVEN countries, including host Guyana, will battle in the 61st Senior Caribbean Table Tennis Championship, which officially serves off this morning at the Cliff Anderson Sports Hall.Included in the mix are a strong Puerto Rican side and The Dominican Republic. The two nations are early favourites to repeat as male and female team champions respectively.Aruba and Suriname were the only two original teams that were scheduled to travel that did not make the trip. The other teams here are Cuba, Martinique, St. Kitts and Nevis, St. Lucia, Trinidad and Tobago, Barbados, Jamaica and Guadeloupe.Prior to today’s competition, several of the teams were battling in the Pan American Qualifiers, and President of the Caribbean Region Table Tennis Federation, Teddy Matthews, was quick to point out that the organising body– the Guyana Table Tennis Association– had so far done an excellent job.A+ FOR PREPARATION Speaking at the official launch of the Caribbean Championships last evening, Matthews said that he was pleasantly surprised with the efforts of the GTTA and said that without a doubt he would give them an A plus for preparations.“They (the GTTA) did a fantastic job in just six months, the hotel is great, the food is great, and the transportation is of a high class.”Matthews added that some of the services are better than what he was exposed to at previous World Championships.President of the GTTA, Godfrey Munroe, told Chronicle Sport that the tournament is key for the further development of the sport locally.“This positions us as a table tennis nation, more than the ability for the players to compete for medals, this positions us to be strategically placed in terms of the new direction of the ITTF.”Last evening the teams were expected to do a draw for the start of this morning’s team battle. The countries will also play in the male doubles, the female doubles, the mixed doubles, the male singles, the female singles, the U-21 female singles, the U-21 male singles and an over-45 open competition from today until March 31.Guyana has a team of 30 players and Munroe is confident that several players will medal.The top three male and female nations will qualify for the Pan American Cup, which is scheduled for Paraguay in September. That event would be used as qualifications for the World Championships.Along with Munroe and Matthews, Latin American TT president Juan Vila, former Caribbean champion Sidney Christophe, and Director of Sport Christopher Jones, were at the opening for remarks and the meeting of the teams.