St. Joseph’s Preparatory School, a private school located in Staffordshire, has announced that it will be closing down due to “financial challenges” it is facing. The school authorities have stated that the recent changes in funding policies regarding independent schools were a significant factor contributing to its decision.
The decision also comes ahead of the imposition of VAT on private school fees on 1 January. Amplifying the decision of the school management, the Labour Party had earlier promised to end tax exemptions extended to private schools if they came into power. The government hopes that the 20% VAT rate on private school fees would provide ample funds for employing 6,500 new state school teachers in England.
The school made a statement on its website, expressing the difficulty and thought that went behind the decision taken by the trustees. It further highlighted the community’s varied financial challenges in recent years and the changes coming regarding independent school funding as two significant factors contributing to their decision to end operations. The school authorities also expressed their commitment to work in tandem with the governors and staff to help affected students transition smoothly into new schools.
Parents were invited for a meeting on Wednesday regarding the school’s closure, and the trustees stated that they would work hard to make the process of transition as seamless and stress-free as possible and prayed for everyone in these difficult times. The school will close down on 31 December, as quoted by the authorities
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