Message from the Foundation Principal
As we enter this new academic year I wanted to take this opportunity to bring you up to date with latest developments affecting the Foundation.
You will be aware from media coverage about the government's plans to introduce VAT onto private school fees. The exact timing of this will be confirmed at the end of October when the Budget is announced, but a January 2025 implementation is looking very likely.
For some months we have been communicating with local MPs across the political spectrum to ensure that they are aware of the key issues and potential damage that this policy could have both locally and nationally. In addition, we have made comprehensive submissions to HM Treasury’s public consultation over this issue.
You will know only too well that the overwhelming majority of our parents are not the super-wealthy; they are aspirational, hard-working people who work exceptionally hard to send their children to the school they believe best meets their needs, aptitudes, and abilities.
We are fortunate to be in a strong financial position and our pupil numbers have remained strong. We are committed to supporting our families, retaining pupils and continuing to recruit strongly for all our schools, whilst maintaining the high-quality education and ethos we are known for.
We have therefore shared our response to VAT with current and prospective families and through cost savings, income generation and a variety of measures, when the policy is implemented we will be reducing our fees to enable us to effectively pass on a 5% increase to families. Feedback to this news has been very positive, as in many schools both locally and nationally, parents will face an increase of well over 10% and in many cases closer to 20%.
The independent school sector and our Foundation certainly faces challenges ahead and undoubtedly we will be looking to our past pupils and former parents for further support over the coming months and years.
Very best wishes for the year ahead.
E D Hester