Today, every state school in England is to receive the first payment of the Government’s additional £2 billion funding for education.
This funding injection for schools – being made in both this year and next year – will supplement budgets to help headteachers manage higher costs like energy bills and teacher pay.
A typical primary school will receive approximately £35,000 and a typical secondary school approximately £200,000, with the first payments by 10th May. The majority of this funding is allocated on a per-pupil basis, and disadvantaged pupils attract additional funding to their school.
Schools can choose how to invest the extra funding; however, it is primarily expected to support salary uplifts for teachers and teaching assistants and help with increased running costs, school trips and learning materials.
The boost means that schools budgets are rising by £3.5 billion next year, and funding will be at the highest ever level in real terms per pupil by the next academic year, as measured by the Institute for Fiscal Studies. It also means school funding is set to rise faster than forecast inflation in both 2023/24 and 2024/25.
Here, in Finchley & Golders Green, the Government’s funding injection represents over £3 million extra investment for our schools, which will be instrumental in creating a better future for our young people with marked improvements/increases in educational resources.
As the Education Secretary has rightly stated, we are “hugely grateful to all our fantastic teachers, school leaders and support staff for all their incredible work and the immeasurable impact they have on the lives of children every day. Teachers must continue to have the resources they need, and this extra cash will make sure that they do".
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