Mike Freer MP has welcomed the announcement by the Secretary of State for Education, Justine Greening, of an additional £1.3 billion investment in schools to support the transition to a national funding formula from April next year. Making a Statement in Parliament, Ms Greening explained how the investment would mean that funding per pupil will now be maintained in real terms for the remaining two years of the Spending Review to 2020.
Mike Freer commented: “I welcome the announcement by the Secretary of State. She is maximising the proportion of her department’s budget which is allocated directly to frontline headteachers – they are best placed to ensure that it is spent where it will have the greatest possible impact. The announcement also fulfils a Conservative manifesto pledge that no school will lose any funding as result of the new formula.”
For the next two years, this investment will provide for an up to 3% gain a year per pupil for underfunded schools, and a 0.5% a year per-pupil cash increase for every school in England. This additional investment in schools in England will be funded in full from efficiencies and savings identified from within the Department for Education’s existing budget, rather than higher taxes or more debt.
The reforms to the school funding system and the significant investment underpin the Government’s ambition for an education system that unlocks potential for every child and allows them to achieve to the best of their ability. Investment in education is a key part of the Government’s commitment to social mobility.
You can read Justine Greening’s full Statement here.