NEARLY a quarter of parents with children at independent schools plan to move them to the state sector - with 13 per cent expected to leave during this academic year.

New research for the Saltus Wealth Index Report has found that only 15 per cent of parents surveyed said the Labour Government’s decision to add VAT to school fees will not impact their children.

The startling figures emerge after PM Keir Starmer admitted using his privileged position to secure £20,000 worth of “peace and quiet” for his children in a borrowed flat while they studied for exams during the election campaign.

Critics last night pointed out the disparity of his position, while parents of special needs children -who choose private schools because of the smaller class sizes and better pastoral care - see fees made unaffordable by Labour's new education tax.

Last night a senior Tory spokesman said: “Keir Starmer is deeply out of touch if his defence for the use of Lord Alli’s multi-million pound penthouse is his child’s education, whilst his government taxes the education of thousands of others.”

More than half - 55 per cent - of the 2,000 individuals polled said their children’s education could be disrupted as a direct result of Labour’s decision to add VAT to private school fees.

Astonishingly, 10 per cent are even considering moving abroad.

This is particularly significant given that the report surveys only High Net Worth individuals with more than £250K in investable assets excluding their homes.

The parents of around 100,000 children with special needs, who scrimp and save for a place at an independent school with smaller class sizes, will fare worse, experts say.

Of those who say they are being forced to pull their children out, one in eight - 13 per cent- said this will happen during the school year following Labour’s decision to impose the increase in January, instead of waiting until the next school year in September.

This threatens to add more than 140,000 pupils to the state schools sector where, in many cases, classes are already full.

One in five - 21 per cent - will try to find a less expensive school.

Last night Shadow Education Secretary Damian Hinds said: “The impact of Labour’s Education Tax could see thousands of pupils enter state schools, increasing class sizes and costs for the taxpayer, and causing disruption for teachers and pupils - and this shocking new report confirms exactly that.

"And all the while, this new Labour government is still happy to cause larger class sizes in the state sector, labelling it as ‘fine’."

He added: "The Government is rushing the implementation of this change – they are seeking to introduce this tax part-way through an academic year, having given no impact assessment on the likely consequences on either the private or state sector, nor how this will impact pupils with special needs or from a minority religious background.”

To view the full Saltus Wealth Index – September 2024 repoprt, click here:-

https://www.saltus.co.uk/wealth-index/reports/saltus-wealth-index-september-2024