Publish: 09:41, 29 Dec, 2024 Updated: 11:32, 29 Dec, 2024

UK to tax private schools in £1.5 Bn boost to public education

Online Desk
UK to tax private schools in £1.5 Bn boost to public education
Photo - Collected

The UK will end a tax exemption for private schools on Wednesday, the centre-left Labour government has announced, in a move set to raise over o1.5 billion ($1.9 billion) for public education.

After years of worsening educational inequalities, from January 1, private schools will have to pay 20 percent value added tax on tuition fees, which will be used to fund thousands of new teachers and improve standards in state schools.

"It's time things are done differently", finance minister Rachel Reeves said in a statement on Sunday.

The funding will "go towards our state schools where 94 percent of this country's children are educated", she said.

The policy was promised by Labour in its election campaign and officially laid out in its inaugural budget in October.

It hopes the move will bring in o1.5 billion for the 2025/2026 school year and rise to o1.7 billion a year by 2029/2030, which will be used to fund 6,500 new teachers in the public sector.

Tuition fees in private schools already average o18,000 a year, according to the Independent Schools Council, which represents private schools.

That figure is set to rise, with the government estimating that tuition fees will increase by around 10 percent, with schools taking on part of the additional cost.

"High and rising standards cannot just be for families who can afford them," said education secretary Bridget Phillipson.

Opponents of the reform say state school enrolment will explode if the private sector is lost, increasing the cost to the government.

But studies contradict this.

The Institute for Fiscal Studies calculated that the number of children in state schools will actually fall by 2030 due to a projected population decline.

Several research centres also point out that the disparity between private and state schools widened sharply under the 14-year Conservative rule.

The Labour government won a landslide election in July promising to boost economic growth and improve public services.

Source: AFP

bd-pratidin/Rafid

More News
Bangladesh Bank steps in to stabilize exchange rates
Bangladesh Bank steps in to stabilize exchange rates
Dhaka international trade fair to start on January 1
Dhaka international trade fair to start on January 1
Asia stocks mostly down after Wall St losses
Asia stocks mostly down after Wall St losses
State-subsidized loans at 3% interest for Nepalese startups launching in March 2025
State-subsidized loans at 3% interest for Nepalese startups launching in March 2025
Country receives $2.4b remittance in 28 days
Country receives $2.4b remittance in 28 days
Gross forex reserves cross $26b: BB
Gross forex reserves cross $26b: BB
Gold prices drop, silver remains unchanged effective from Monday
Gold prices drop, silver remains unchanged effective from Monday
Winter vegetable prices plunge sharply in Gaibandha market
Winter vegetable prices plunge sharply in Gaibandha market
US telecom giants confirm Salt Typhoon cyberespionage, reassure on network security
US telecom giants confirm Salt Typhoon cyberespionage, reassure on network security
There will be no shortage of goods in Ramadan: DNCRP DG
There will be no shortage of goods in Ramadan: DNCRP DG
Banks face catastrophic year in 2024 amid liquidity crisis
Banks face catastrophic year in 2024 amid liquidity crisis
Goods unloading resumes at Mongla Port
Goods unloading resumes at Mongla Port
Latest News
Govt to prepare declaration of July uprising: CA’s press secretary
Govt to prepare declaration of July uprising: CA’s press secretary
4 hours ago | National
WHO appeals for end to attacks on Gaza's hospitals
WHO appeals for end to attacks on Gaza's hospitals
5 hours ago | International
A big war awaits us: Tarique Rahman
A big war awaits us: Tarique Rahman
5 hours ago | National
Bangladesh requests Malaysia to allow stranded workers
Bangladesh requests Malaysia to allow stranded workers
5 hours ago | National
Online tax returns cross 10 lakh
Online tax returns cross 10 lakh
5 hours ago | National
Chief Advisor signs inaugural envelope for Youth Festival 2025
Chief Advisor signs inaugural envelope for Youth Festival 2025
6 hours ago | National
Where AI going in 2025 as its becoming ingrained in businesses across industries
Where AI going in 2025 as its becoming ingrained in businesses across industries
6 hours ago | Tech
Water crisis continues in Al-Quds
Water crisis continues in Al-Quds
6 hours ago | International
Dr. Yunus's role in 1971 Liberation War
Dr. Yunus's role in 1971 Liberation War
6 hours ago | National
‘Bangladesh in touch with Myanmar govt, Arakan Army’
‘Bangladesh in touch with Myanmar govt, Arakan Army’
6 hours ago | National
Patriots do not abandon their homeland: Jamaat Ameer
Patriots do not abandon their homeland: Jamaat Ameer
7 hours ago | National
LGRD Division gets new secretary
LGRD Division gets new secretary
7 hours ago | National
Secretariat fire: Investigation report submission now on Tuesday
Secretariat fire: Investigation report submission now on Tuesday
7 hours ago | National
Dengue claims 573 lives this year
Dengue claims 573 lives this year
8 hours ago | National
CA Yunus mourns ex-US President Jimmy Carter’s death
CA Yunus mourns ex-US President Jimmy Carter’s death
8 hours ago | National
Defending champions Barishal start BPL with thumping win over Rajshahi
Defending champions Barishal start BPL with thumping win over Rajshahi
8 hours ago | Sports
Rohit 'accepts' Saikat's decision but blames technology
Rohit 'accepts' Saikat's decision but blames technology
8 hours ago | Sports
40 Israeli soldiers killed in Gaza since October
40 Israeli soldiers killed in Gaza since October
8 hours ago | International
Kushtia, Narayanganj get new DCs
Kushtia, Narayanganj get new DCs
8 hours ago | National
Four districts get new SPs
Four districts get new SPs
9 hours ago | National
'Sonic 3,' 'Mufasa' fight for topmost spot at holiday box office
'Sonic 3,' 'Mufasa' fight for topmost spot at holiday box office
9 hours ago | Entertainment
Fire-ravaged secretariat building can be repaired: Public Works Official
Fire-ravaged secretariat building can be repaired: Public Works Official
9 hours ago | National
US Embassy Dhaka launches new scheduling mechanism
US Embassy Dhaka launches new scheduling mechanism
9 hours ago | City
Jet crash disaster in South Korea marks another setback for Boeing
Jet crash disaster in South Korea marks another setback for Boeing
9 hours ago | International
Chinese envoy offers support to strengthen judiciary
Chinese envoy offers support to strengthen judiciary
9 hours ago | National
EC to start door-to-door voter update from Jan 20
EC to start door-to-door voter update from Jan 20
10 hours ago | National
Elon Musk envisions ‘direct democracy’ for future ‘Mars Colony’
Elon Musk envisions ‘direct democracy’ for future ‘Mars Colony’
10 hours ago | International
Bangladesh Bank steps in to stabilize exchange rates
Bangladesh Bank steps in to stabilize exchange rates
10 hours ago | Business
Dhaka international trade fair to start on January 1
Dhaka international trade fair to start on January 1
10 hours ago | Business
A fourth infant dies of the winter cold in Gaza
A fourth infant dies of the winter cold in Gaza
11 hours ago | International
Most Read
Shafiqur Rahman to build discrimination-free country
Shafiqur Rahman to build discrimination-free country
13 hours ago | National
Conspiracy going on in the country, says Shamsuzzaman Dudu
Conspiracy going on in the country, says Shamsuzzaman Dudu
12 hours ago | National
2 dead as light aircraft crashes off UAE coast
2 dead as light aircraft crashes off UAE coast
12 hours ago | International
Country receives $2.4b remittance in 28 days
Country receives $2.4b remittance in 28 days
17 hours ago | Business
Report on billions of taka corruption burned to ashes
Report on billions of taka corruption burned to ashes
15 hours ago | National
Sanjida Afrin suspended for alleged protection of Anisul, Salman
Sanjida Afrin suspended for alleged protection of Anisul, Salman
17 hours ago | National
Met office forecasts dry weather over country
Met office forecasts dry weather over country
14 hours ago | National
Gross forex reserves cross $26b: BB
Gross forex reserves cross $26b: BB
18 hours ago | Business
Exciting K-drama releases for January 2025
Exciting K-drama releases for January 2025
15 hours ago | Entertainment
Sheikh Hasina’s graffiti redrawn on Metro pillar at DU
Sheikh Hasina’s graffiti redrawn on Metro pillar at DU
14 hours ago | National
MP's imprisonment: A chronicle of Awami League's misrule
MP's imprisonment: A chronicle of Awami League's misrule
15 hours ago | Special
Inu, Palak, Salman, among 5 shown arrested in fresh cases
Inu, Palak, Salman, among 5 shown arrested in fresh cases
13 hours ago | National
66 dead in Ethiopia road accident
66 dead in Ethiopia road accident
16 hours ago | International
BPL chaos: Frustrated fans vandalize stadium gate over ticket shortage
BPL chaos: Frustrated fans vandalize stadium gate over ticket shortage
11 hours ago | Sports
UK Home Office to spend £15 million on spy satellites to monitor migrant crossings
UK Home Office to spend £15 million on spy satellites to monitor migrant crossings
15 hours ago | Tech
AI could secretly influence decisions in new 'Intention economy'
AI could secretly influence decisions in new 'Intention economy'
17 hours ago | Tech
Bangladesh inks new deal with Saudi Arabia for fertilizer imports
Bangladesh inks new deal with Saudi Arabia for fertilizer imports
15 hours ago | National
DU imposes ban on outsiders for December 31st night
DU imposes ban on outsiders for December 31st night
13 hours ago | City
Each cigarette cuts life expectancy by 20 minutes: Study
Each cigarette cuts life expectancy by 20 minutes: Study
16 hours ago | Lifestyle
Rising bird strikes at Dhaka airport spark growing concerns
Rising bird strikes at Dhaka airport spark growing concerns
14 hours ago | National
Dua Lipa and Callum Turner get engaged
Dua Lipa and Callum Turner get engaged
16 hours ago | Entertainment
BPL kicks off today
BPL kicks off today
15 hours ago | Sports
Govt issues directives for Tabligh Jamaat activities to maintain peace
Govt issues directives for Tabligh Jamaat activities to maintain peace
13 hours ago | City
South Korea considers special inspection for B737-800 fleet
South Korea considers special inspection for B737-800 fleet
18 hours ago | International
How to transcribe voice memos on an iPhone?
How to transcribe voice memos on an iPhone?
17 hours ago | Tech
Bangladesh, Malaysia to enhancing trade and economic relations
Bangladesh, Malaysia to enhancing trade and economic relations
16 hours ago | National
NASA's Lunar Trailblazer to map lunar surface in 2025
NASA's Lunar Trailblazer to map lunar surface in 2025
15 hours ago | Tech
Mushfiqul Fazal Ansarey appointed Bangladesh’s ambassador to Mexico
Mushfiqul Fazal Ansarey appointed Bangladesh’s ambassador to Mexico
15 hours ago | National
Fascinating words from around the world: language, culture, and climate in 2024
Fascinating words from around the world: language, culture, and climate in 2024
11 hours ago | Lifestyle
Michael Chakma submits written complaint to ICT against Hasina, 8 others
Michael Chakma submits written complaint to ICT against Hasina, 8 others
13 hours ago | National