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Colleges must escape 'survival mode' to reach full potential

The Herald Scotland

06-08-2025

Business
The Herald Scotland

Colleges must escape 'survival mode' to reach full potential

Prof Little, Digital Entrepreneur in Residence at the University of Stirling, is a Futurist, someone who studies and prepares for the future. He said that Scotland's colleges could benefit from adopting this strategic perspective. 'Futurism is not about prediction, as there are no facts in the future. Instead, it is fundamentally all about preparation for possible futures. 'Futurism involves looking for signals of the future, identifying patterns, trends, and drivers. Then, exploring a range of possible futures that those elements may evolve into. 'Then planning for them.' He wrote that the economic landscape is changing rapidly, and innovations in artificial intelligence (AI) and other technologies are speeding up that evolution. 'Back in 2022, to an audience of Scottish skills educators and administrators, I cited a statistic suggesting that '85% of jobs that will exist in 2030 haven't been invented yet.'' In his report, he argued that colleges are best placed to be the source of learning for these future jobs, but identified several issues that he believes are holding colleges back, including a reduction in public investment, uneven engagement with businesses, unclear priorities from the Scottish Government, and little room for talk about colleges in discussions about higher education funding. Read more: He added that Scotland could face further challenges, including student dropout rates caused by rising mental health issues in young people and an increase in demand for additional support needs (ASN) across the country. Looking to the future, Prof Little argued that colleges in Scotland could become 'world-class' in vocational and technical education. Professor Joe Little, Digital Entrepreneur in Residence at the University of Stirling, has written a new report calling for Scotland's colleges to be at the heart of future skills education. (Image: Prof Joe Little) In order to do so, he recommended that 'as much support as possible is afforded to Scotland's colleges politically, and that colleges work together closely, to achieve success and economies of scale in delivering results for students and society. 'Colleges have always played a vital role in Scottish civic life, and there is a bright future for Scotland's colleges if far more strategic ambition is put towards their success.' He wrote that the current 24 college structure leaves most colleges 'struggling to survive year-on-year' and 'almost no reward for innovation and commercial entrepreneurship within the institutions". 'My view is that a new model is needed for Scotland that will deal directly with the issues constraining the 24 colleges and provide a more hopeful future for the sector and indeed move from 'survival mode' to recognised as 'world-class.'' Writing exclusively for The Herald following the publication of his report, Prof Little said that urgent changes are needed for Scotland's colleges to take advantage of the opportunities he has highlighted. 'It starts with colleges being at the heart of government priorities – priorities which are set in consultation with employers to help connect what the economy needs to the education and training on offer. 'Countries that are doing well at providing great vocational training are often funding their colleges from their Economy portfolio, or equivalent departments. This instantly clarifies that colleges provide skilled workers who add to economic growth and enhance national prosperity.' Prof Little argued that Scotland's colleges have a chance to escape 'survival mode.' 'To do this, colleges need greater and more stable investment and stronger recognition politically for the work they do for individuals, families, employers and communities. The economic and social impact of colleges should also be much more highly recognised. 'I'm clear this future should include colleges at the heart of a world-class technical vocational education and training system in Scotland.' The Scottish Government has recognised the importance of skills training, and there are potential changes in the works for further education, particularly in terms of the funding structure. The Tertiary Education and Training (Funding and Governance) (Scotland) Bill being considered by the Scottish Parliament could see funding for national training programmes and apprenticeships consolidated within a redesigned Scottish Funding Council. Official statistics published by the Scottish Qualifications Authority (SQA) showed a record number of vocational and technical qualifications and awards in 2025. The total of 110,380 represents a 22.6% increase compared to 2024. In response to Prof Little's report, a Scottish Government spokesperson said: 'Colleges play a vital role which is why we have provided an uplift in funding for the sector in this year's budget. 'The Scottish Government accepts the premise of the key provisions set out in the independent review of skills delivery by James Withers, and work is underway to take forward the Post-School Education and Skills Reform Programme. 'We are clear about the importance and status of vocational pathways and it is very positive that the number of passes in vocational and technical qualifications reached a record high in this year's exam results.

Sandringham head gardener's home becomes holiday let

BBC News

17-07-2025

BBC News

Sandringham head gardener's home becomes holiday let

The former home of the head gardener at a royal estate is being offered as a holiday let - with a stately price tag six-bedroom Gardens House was once the residence of the head gardener on the Sandringham Estate, the Norfolk home of King Charles is being marketed as a holiday let "within the heart of Sandringham's royal grounds", with the cost starting from £4,110 per Little, managing editor of Majesty Magazine, said the let was a sign that royal estates were "actively striving to bolster their revenue streams" and the house would appeal to "well healed Brits". The Gardens House joins another property on the Sandringham estate, called The Folly, as holiday homes available to the general public. The Sandringham Estate covers approximately 20,000 acres (8,100 hectares) with 600 acres (242 hectares) of gardens. The estate is a popular tourist destination with both the house and garden open to the the grounds is a working sawmill and organic farm - and a number of properties. 'The Gardens House sleeps eight people, has three bathrooms and is dog-friendly. The listing describes it as "once home to the Estate's head gardener, this handsome brick residence now offers guests a rare invitation to experience the grace and quiet rhythm of life on one of Britain's most storied country estates". Mr Little said royal estates had always had commercial offers but the way they were being presented had changed. "The way in which these properties are marketed is much more upfront these days, a consequence perhaps of the fairly recent change of ownership," he said. "Given the grandeur of The Folly, in particular, there is a heightened awareness that the privately owned royal estates are actively striving to bolster their revenue streams."Sandringham is not the first royal residence to rent out property to holidaymakers, with eight cottages and lodges available for hire at Balmoral Castle, is stated on the Balmoral website that "some cottages are not available for rent for certain dates during the Royal Family's visit". Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.

Bloomberg

22-05-2025

Business
Bloomberg

Bloomberg Daybreak Asia: US Deficit Concerns Spur Wall Street Selloff

Asian shares were mixed and Treasuries continued their slide at the open Thursday following losses in Wall Street on concerns about the US's ballooning deficit. Treasuries fell across the curve Wednesday with long-term debt bearing the brunt as the 30-year yield rose 12 basis points. Tepid demand for a $16 billion sale of 20-year bonds rekindled fears over US government borrowing and budget deficit. That sapped sentiment after a sharp rebound in risk assets over the past month and revealed structural concerns in the bond market. We get some market perspective from Joe Little, Global Chief Strategist at HSBC Asset Management. Traders have been piling into bets that long-term bond yields would surge on concerns over the US's swelling debt and deficits, with Moody's Ratings on Friday lowering the nation's credit score below the top triple-A level. For many, the message was: Unless America gets its finances in order, the perceived risks of lending to the government will rise. We get reaction from Rebecca Walser, President at Walser Wealth Management.

Oil hits 1-week high as dollar weakens on Israel-Iran strike report

Business Standard

21-05-2025

Business
Business Standard

Oil hits 1-week high as dollar weakens on Israel-Iran strike report

Oil rose to the highest level in a week and the dollar weakened after CNN reported that new US intelligence suggested Israel is preparing for a potential strike on Iranian nuclear facilities. Brent crude jumped 1.7 per cent. It wasn't clear that Israeli leaders had made a final decision to carry out the strikes, CNN said, citing officials it didn't name. The Swiss franc and the yen, traditional haven assets, inched higher. Yields on Japanese super-long sovereigns dipped after Tuesday's surge, while those on the 30-year US Treasury hovered around the 5 per cent mark. Contracts for the S&P 500 and the Nasdaq 100 dropped 0.4 per cent while Asian shares rose 0.8 per cent. Geopolitical tensions may add headwinds to the markets, which had calmed recently after a month of turmoil from the tariff blitz unleashed by US President Donald Trump. Investors are scouring for clues on whether recent gains in stocks can sustain, even as the Federal Reserve waits to gain a clearer view of the economy before lowering interest rates. 'Most professional investors are still quite cautious, and I think rightly so, given the economic outlook, the policy uncertainty, which is ultra high,' said Joe Little, global chief strategist at HSBC Asset Management in Hong Kong. Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks, which could pave the way for more barrels to return to a market that's expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to unrest in the Middle East, which supplies about a third of the world's crude. The tensions triggered dollar selling and yen buying by risk-averse investors. Most Asian currencies climbed while a gauge of the greenback declined for a third straight day. 'The US dollar has of course lost its luster as the undisputed safe reserve asset,' said Richard Franulovich, head of FX strategy at Westpac Banking Corp. As such, 'these periodic geopolitical flare ups are going to show up more forcefully in alternatives like the yen and Swiss franc going forward.' A weaker dollar and lower interest rates will aid Asian shares, Morgan Stanley strategists said. The Morgan Stanley Asia Pacific Index rose 0.7 per cent Wednesday. Asian markets could benefit further from a rotation out of US assets, but that depended on whether trade deals can be reached before the July 8 expiry of the 90-day US tariff pause, according to Bloomberg Intelligence. A weaker dollar is driving 'hot money inflows' across emerging Asia as local currencies strengthen. Long-term Treasury yields climbed Tuesday as fractious US budget negotiations kept focus on the growth in deficit spending, with traders piling into bets that they will surge further. Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill. Traders are piling into bets that long-term Treasury yields will surge on concerns around the US government's swelling debt and deficits. Bets favoring the 10-year yield testing 5 per cent are among some of the bigger positions. In Japan, the sovereign debt market is flashing a warning to the central bank that dialing back its bond purchases needs to be done with great care. The issue is in sharp relief this week, with investors shunning an auction of government debt and yields soaring, just as market participants sit down with Bank of Japan officials to share views on tapering. Meanwhile, Federal Reserve Bank of St. Louis President Alberto Musalem said tariffs will likely weigh on the US economy and weaken the labor market. Musalem said the Fed can deliver a 'balanced response' to both inflation and employment as long as Americans' outlook on future prices remains anchored at the central bank's 2 per cent target. Some of the main moves in markets: Stocks S&P 500 futures fell 0.4 per cent as of 1:50 p.m. Tokyo time Japan's Topix was little changed Australia's S&P/ASX 200 rose 0.6 per cent Hong Kong's Hang Seng rose 0.5 per cent The Shanghai Composite rose 0.4 per cent Euro Stoxx 50 futures were little changed Currencies The Bloomberg Dollar Spot Index fell 0.4 per cent The euro rose 0.5 per cent to $1.1335 The Japanese yen rose 0.6 per cent to 143.68 per dollar The offshore yuan rose 0.1 per cent to 7.2054 per dollar Cryptocurrencies Bitcoin rose 0.4 per cent to $107,412.61 Ether rose 1.6 per cent to $2,553.6 Bonds The yield on 10-year Treasuries advanced two basis points to 4.50 per cent Australia's 10-year yield advanced five basis points to 4.45 per cent

HSBC's Joe Little on the End of American Exceptionalism