Treasury written question – answered at on 21 November 2024.
Lord Lexden
Deputy Chairman of Committees, Deputy Speaker (Lords)
To ask His Majesty's Government how much revenue they expect to raise by imposing VAT on independent school fees; and how they have calculated that estimate.
Lord Livermore
The Financial Secretary to the Treasury
Applying VAT to private school fees will raise £1.7 billion a year by 2029/30, rising from £1.5 billion in the first full year of the policy.
The Government published the policy costing for this change at the Budget, including setting out the assumptions and methodology.
The independent Office for Budget Responsibility (OBR) has certified the costing, including the assumptions and methodology.
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