Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Drakeford plans new tax hit on private schools in Wales

by
September 25, 2024
in Top News
0
Drakeford plans new tax hit on private schools in Wales
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Private schools in Wales could lose their charitable status from April 2024 under new proposals set out by the Welsh Labour government.

The move would require fee-paying schools to pay domestic rates, a change expected to bring in an additional £1.3 million per year. This comes on top of UK-wide plans to impose VAT on private school fees, which will also affect Welsh schools.

Welsh finance secretary, Mark Drakeford, argued that the proposed changes would bring Wales in line with Scotland, where private schools lost charitable status in 2022, and would align with similar moves planned in England. Currently, 17 of the 83 private schools in Wales receive charitable non-domestic rates relief, which Drakeford believes creates an unfair advantage.

“We believe that independent schools with charitable status in Wales should be treated in the same way as those which are not charities,” Drakeford said, justifying the proposal as a way to redirect funds into local services.

However, concerns have been raised that these tax changes, including Sir Keir Starmer’s planned VAT on private school fees, could lead to a significant drop in private school enrolment. A recent Saltus Wealth Index report found that nearly 23% of parents might withdraw their children from private education, potentially shifting 140,000 children into state schools across England and Wales. Critics argue this would overwhelm the public education system and result in higher costs for taxpayers.

Tom Giffard, Welsh Conservative shadow education minister, criticised the proposals as short-sighted. He warned that pushing children into an already strained state school system would increase class sizes and place additional pressure on teaching staff.

The Welsh government’s consultation on removing charitable status for private schools will run for 12 weeks until December 16.

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
Dave Antrobus Sees AI’s Game-Changing Influence on UK Sports: Transformative Impact and Innovations

Dave Antrobus Sees AI’s Game-Changing Influence on UK Sports: Transformative Impact and Innovations

Recommended

From Health Gains to Wallet Wins: The Life-Changing Benefits of Saying Goodbye to Smoking

From Health Gains to Wallet Wins: The Life-Changing Benefits of Saying Goodbye to Smoking

November 7, 2024
MGen unit signs solar deal with Singaporean firm

MGen unit signs solar deal with Singaporean firm

August 22, 2024
First Gen secures permit for LNG terminal in Batangas

First Gen secures permit for LNG terminal in Batangas

January 6, 2025
This Is How I Crush The Benchmark S&P 500 In Any Market

This Is How I Crush The Benchmark S&P 500 In Any Market

February 17, 2025
Christoffer Ødegården: Why No-Deposit Offers Demand a Clear Retention Strategy to Deliver Value

Christoffer Ødegården: Why No-Deposit Offers Demand a Clear Retention Strategy to Deliver Value

December 9, 2024
Justin Nuyda tribute exhibit celebrates his origins

Justin Nuyda tribute exhibit celebrates his origins

September 24, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved