Lincolnshire prep school latest to fall foul of ‘financial burdens’
Yet another private school has announced it will be closing its doors as a result of the ‘financial burdens’ facing the sector.
St George’s Prep School in Boston, Lincolnshire, will close at the end of the academic year after operators said they were unable to find any way to keep running, with ‘unsustainable financial losses being incurred on a daily basis’.
The decision comes after the Labour Government decided that independent school fees would no longer be exempt from 20% VAT from January, a move which many independent schools warn is putting parents under pressure.
The school in London Road, which is rated ‘outstanding’ by Ofsted says it has also seen a notable fall in pupil numbers with fewer families wanting to enrol their children.
It also blames the recent increase in employers’ National Insurance contributions and the National Minimum Wage for its financial difficulties.
Founder and principal, Sarah Whelan, said: “This is a very sad moment for everyone connected to St George’s.
“Our dedicated staff, wonderful pupils, and supportive families have made this a truly-special community.
“We are heartbroken that financial realities beyond our control have forced this outcome.”
The Government argues that ending tax breaks for private schools will raise £1.8bn a year by 2029/30 to help deliver 6,500 new teachers and raise state school standards.