New Tory Leader Still Lying...

[Hymie]

....and she’s only been in the job for less than a day.

 

[ToraToraTora]

so "we sold brexit on a lie" - is a lie? right oh!

[Canary42]

Hymie, all politicians lie, it's in the job description.

[Hymie]

Die-hard Tory TTT does not believe what the new Tory leader says – her days as leader must be numbered.

[ToraToraTora]

I'm just trying to identify what you think the porky is.

[Pegasus16]

Blimey, is this sour angry little Remoan idiot Femi, still around spouting his usual nonsense pretending to be working as a  journalist?

[Hymie]

One of the many lies from your new leader was that VAT on private education would not raise any money; whereas the Treasury has said it would raise about £1.725 billion.

[ToraToraTora]

It wont raise any money, they'll just claim back their own capital projects VAT outlay, the treasury will be paying them.

[THECORBYLOON]

The Government has taken into account the amount that schools can claim back and it states,

"School fees

Charging VAT at the standard rate of 20% does not mean that schools must increase fees by 20%. Private schools charging VAT will also be able to reclaim VAT paid on their inputs, such as capital expenditure and purchases of educational supplies. After recovery of VAT on their costs, on average the government expects schools to be liable for VAT amounting to approximately 15% of fee income, though this will vary between schools." [emphasis added]

[THECORBYLOON]

From the OBR's report,

"VAT on private school fees

3.36 On 29 July 2024, the Chancellor announced plans to introduce VAT on independent school fees at the standard rate of 20 per cent. This will be effective for school terms commencing after 1 January 2025, and include early payments made after the date of announcement. This is estimated to raise £1.7 billion in 2029-30.

3.37 We estimate the policy will apply to the around 600,000 private school pupils in the UK and that the effective VAT rate applied will be 15.4 per cent, less than the standard rate as some input costs will be recovered. Overall, we estimate that around two-thirds of the cost is passed on through higher fees, just less than a quarter is reflected in reduced service provision, and the remainder is absorbed through cost efficiencies and from profits."

[newmodarmy]

So OBR and Kemi are making estimates. The fees won't start until 2025 some won't know until maybe 2026 whose estimate was closest. Maybe someone will come back then and tell us who was lying/ wrong.