It would be better if other factors were taken into account. The report only takes into account education, not family background.
It’s like the old analogy about how a table and a dog have 4 legs, but that doesn’t make a dog a table.
Those with significant generational wealth send their kids to private schools. Those with significant generational wealth dominate in government and in top industry positions. This does not mean that the private school was the main factor.
The factors that made the difference to get the top jobs were more likely to be significant financial safety net, family connections, expectations (if aunt Susan is already British ambassador to Mongolia you are more likely to consider it as a viable career choice).
But this does not mean that the daughter of a successful local plumber suddenly has the same factors apply just because she went to the local independent school.
Significant generational wealth is the biggest factor in that kind of “success”- and by that I mean “an ancestor who came over with William the Conqueror”, not a £50k inheritance from great-granny Agnes.
Of course, the VAT application will price out the plumbers daughter, but not the diplomat’s niece, so actually compounds the problem rather than fixing it.