The Impact of Independent Schools on the UK Economy – Oxford Economics Report 2022

This report from 2022, highlights the huge impact of the independent school sector on the UK economy.

Independent schools in the United Kingdom make a significant contribution to national and local economies, as well as the communities they serve. In 2021, according to independent economic analysis as set out in this report:

• Schools affiliated to the Independent Schools Council (ISC) made a £14.1 billion contribution to the UK economy. That is equivalent to the total economic activity generated in a city the size of Sheffield.
• The activities of ISC schools also have a significant impact on UK employment. In 2021, they supported around 282,000 jobs across the country, equivalent to the total employed population in a city the size of Liverpool.
• ISC schools also supported £4.3 billion in tax revenues for the UK exchequer. That is sufficient to fund the salaries of 115,000 full-time nurses.
• Scaling the results up to all independent schools across the UK, we estimate their total economic footprint to have been £16.5 billion, associated with over 328,000 jobs, and £5.1 billion in tax revenues.
• The study also found that independent schools save the taxpayer £4.4 billion every year by providing places for pupils who could otherwise be expected to take up a place in the state-funded sector. The ISC schools’ share of that total is £3.8 billion.

Read the report