Eton College has announced it will add the full 20 per cent VAT cost onto school fees when Labour’s policy is introduced.
From January, parents will now have to pay £63,000 per year in fees – excluding students on bursaries, who will be exempt from the increase in tuition costs.
The elite private school said it regretted the “government has chosen to tax education” in a letter informing parents of its decision yesterday.
It currently costs £52,000 per year for parents to send their children to Eton.
In the letter to parents, Lord Waldegrave of North Hill, the outgoing Eton provost, wrote: “While this news was not unexpected, the provost and fellows regret that the government has chosen to tax education in this way.
“Furthermore, we are disappointed that the introduction of VAT will take place part way through an academic year and at short notice.
“We recognise the concern that will be felt by many parents following this announcement.”
The letter, co-signed by Sir Nicholas Coleridge, the incoming provost who will take over in September, added: “The provost and fellows appreciate that the imposition of VAT is unwelcome news and are also keenly aware of the impact of this decision on all our parents.
“Please be assured that we will continue to focus on the costs of the school moving forward, although we will not compromise on the quality of the education provided to your sons.”
The government’s move follows an announcement that Britain’s biggest private girls’ school trust will raise its fees by 12 per cent from January.
The Girls’ Day School Trust, which represents 23 private schools, announced it would absorb the remaining 8 per cent.
The trust has given parents extra time to withdraw children ahead of the price rise.
But critics argue that the extra cost of educating displaced private school pupils could be higher.
The 2022 accounts for Eton, which has more than 1,300 male pupils aged 13 to 18, show it has consolidated reserves of more than £560 million.