In April 2014 the Independent Schools Council released the findings of a study into the economic impact of independent schools on the national economy.
According to the report, independent schools in Britain generate £11.7 billion for the country – the economic equivalent of Britain’s eighth largest city, Bristol. At the same time ISC produced a toolkit for schools to be able to calculate their own economic worth to their locality which we at Yarm found very useful. We were able to calculate that the school supports in excess of 240 jobs, which generates £2.3m of tax and saves the economy more than£11.7m through educating pupils privately.
To read more, see issue 5 of HMC's Insight magazine.