That's horrible! OK you could nitpick and say it's not actual porn, no beaver shots etc. But it's highly sexualised stockings and suspenders on a schoolgirl which is a well-known porn trope, also totally inappropriate and irrelevant.
I would have expected a lot better of the Independent too which is usually great for interesting photos. Something like the sun shining on a school playground could have made an arty pic in the right hands.
I do notice however it's from the money/business section. They often have deeply irrelevant and sometimes titillating pics, presumably because they have a large male readership and also a lot of financial stories that aren't easy to illustrate. Not en excuse but I've noticed it before.