The party has made several distinct pledges about what the money will be spent on over the past year, but Labour sources told i that they will all be covered by the VAT windfall
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.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Labour will add 20% VAT to private school fees within first year of winning powerSenior Labour sources told i the party will roll out the change as soon as possible, rather than phasing it in
Weiterlesen »
Labour will add 20% VAT to private school fees within first year of winning powerPlans could raise £1.7bn to spend on lifting educational standards across the state sector, party says
Weiterlesen »
Labour to add VAT to private school fees immediately if it wins powerLabour says the policy could raise £1.7 billion to invest in state schools.
Weiterlesen »
Labour to add VAT to private school fees immediately if it wins powerLabour says the policy could raise £1.7 billion to invest in state schools.
Weiterlesen »
i morning briefing: What would Labour’s VAT policy for private schools mean?Schools and teachers have warned about the impact, but would it raise the money it hopes to?
Weiterlesen »
Labour 'absolutely' committed to VAT charge on private schools, says party chairAnnaliese Dodds suggested Labour would push on with plans to introduce the tax raid within its first year of office if the party wins the general election, as revealed by i on Monday
Weiterlesen »