Chancellor and Leeds West & Pudsey MP 'excited' by funding boost for state schools
The new policy around VAT at private schools is set to be introduced in 2025
Last updated 30th Dec 2024
Thousands of state schools will receive a funding boost next year - as a result of the end of the VAT break for private schools.
The government's introducing the 20 percent tax on New Year's Day, which it claims will add £2.3 billion to the education budget next year.
Ministers say the money will go towards improving existing facilities and the Special Educational Needs and Disabilities system.
Chancellor Rachel Reeves - who's also the MP for Leeds West & Pudsey - says it's great news for children:
"A lot of parents work hard to be able to send their children to private schools, but all parents are aspirational for their children, including the 94% of children in our state schools.
"Getting rid of the tax exemptions for private schools will allow us to invest 1.7 billion pounds worth of money into our state schools, so that they can recruit and retain the very best teachers, allowing all children to get a great start in life."