Independent School Fees: VAT

Lord Markham Excerpts

Monday 21st October 2024 Lords Chamber

[Lord Livermore (Lab)]

I absolutely agree with the spirit of my noble friend’s point. This is a necessary decision that will generate additional funding to help improve public services, including the Government’s commitments relating to education and young people. The Government are committed to breaking down barriers to opportunity and determined to drive up standards in those schools serving the overwhelming majority of children in this country.

[Lord Markham (Con)]

What is clear from the comments is that this is all built on a number of assumptions that clearly could be incorrect. Given that the whole objective of this is to raise money, will the Minister undertake a review a year from now when this has been in place to see whether those assumptions were borne out, or, as we suspect, it has ended up losing money and will be repealed?

[Lord Livermore (Lab)]

The Government are extremely confident in our costings. We expect this policy to raise significant amounts of revenue. The Office for Budget Responsibility will certify the Government’s costings at the Budget. Of course, one keeps all tax policy under review.