VAT on school fees will fund 6,500 new teachers and early years cash bonus, says Labour

Economists from the Institute for Fiscal Studies said Labour would likely “bring it in as soon as they physically could” to hand the party more spending power if Sir Keir is elected to No 10.

The think tank estimated that removing tax breaks from private schools — including exemptions from VAT and relief on business rates — would raise about £1.6bn a year in extra tax revenue. The IFS has not yet done any modelling on the education policy pledges that Labour hopes to fund through the VAT charge on private schools.: “Our best guess is that it would probably raise around £1.6bn, Labour’s is £1.7bn – but that’s pretty close. It will still raise a lot in tax revenue.

Wes Streeting, the shadow health secretary, said in July that Labour is under strict orders not to make any unfunded spending commitments as the party prepares for potential power.

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