Our school has just put up fees due to increased running costs etc. This has put our bill up by an extra £400pcm.
We don't have an extra 400 a month.
We don't go on holiday, our cars are over 10 years old and I can't remember the last time I had a hair cut or did anything for myself - I'm not complaining, that's how we have chosen to live. These are the things we don't do to pay for fees, there are many like us......I'm picking up extra work to try to cover this but another increase (VAT) will price us out. My husband already works two jobs. We manage now but we are at a tipping point already. I'm not after a pity party, I just want to reflect the position we are in.
The cars in our school carpark aren't big, shiny 4x4s.
I agree, the ultra-wealthy won't notice a price increase. The big well-known schools won't see a change.
Those, like us, who have chosen to spend money on education vs other things - new clothes, days out etc will be priced out. I agree we have chosen this path but we were able to afford it, just. This move will force us out and put our children into state education in an area that's oversubscribed so where will they go?
I disagree with those saying if you can afford it now, you can afford a % more. When you are stretching to find the pennies to pay the fees, it's no different to now having to re-mortgage at a different rate. You budget accordingly when you have fixed outgoings.
I sincerely hope the policy is robusty stress-tested to understand how the VAT will affect numbers. I understand this has been done previously but it needs to be done again to reflect the current status.