I think they’ll try their best. Whether or not they will manage to is another matter. It wasn’t long ago the party voted to abolish private schools altogether, then dropped that plan when they realised it wasn’t workable. Then they decided they’d strip schools of charitable status. It seems to have now dawned on them that this plan wasn’t workable either, and wouldn’t mean VAT would be payable anyway, so that idea has also been dropped.
The latest idea of changing the VAT legislation might be possible but is likely to lead to unintended consequences. It’s also against EU law as far as I’m aware, so I’m not sure how the party says on one hand they don’t plan to deviate from EU law, but on the other says that they will tax education.
The plan is forecast (optimistically) to raise a relatively tiny amount of money (around 1% of the state education budget). In reality, I suspect that any gains will be wiped out with legal and admin costs. Let’s be honest though, the policy is not about raising money. It’s seen merely as a populist vote winner by those who want to attack the private sector.
The more sensible idea of reducing inequality would be to improve state schools to such a level that people don’t feel the need to use the private system. Most parents using the private sector aren’t paying thousands a year for the fun of it.
I wonder how the party plan to tackle the “inequality” of those using the state system but paying for private tutors, or those buying expensive houses in catchments of good state schools.