PRESS RELEASE : Record funding for schools in England [July 2023]
The press release issued by the Department for Education on 17 July 2023.
Schools in England to receive highest ever funding rates in 2024-25.
Schools in England are set to receive their highest ever funding in real terms, totalling almost £60 billion for 2024-25 as the government today announces the extra funding they will receive through the National Funding Formula (NFF).
Mainstream schools in England will receive an average of around £6,000 for each pupil from next year through the NFF, with additional funding for teacher pay coming on top of that. More money than ever before is being invested in schools, ensuring every child gets a world class education.
Overall, funding will be at its highest ever level in real terms per pupil in 2024-25, as measured by the independent Institute for Fiscal Studies (IFS) – underlining the government’s commitment to education.
This money can be spent on staff salaries, school trips and classroom equipment which will help raise school standards and education outcomes. These increases form part of the additional £9.8 billion being invested in the schools core budget by 2024-25, compared to 2021-22.
This follows news last week that teachers in England have been given the highest pay award for 30 years of 6.5%, following government accepting in full the recommendations set out by the independent pay review body. In doing so, the Government will be delivering on its manifesto commitment to raise the minimum starting salary for teachers to £30,000 from September. This deal will allow teachers and school leaders to call off strike action.
This will support the Prime Minister’s plans to build a better future, where children are given the highest standard of education no matter where they grow up and have the skills they need for the future.
Education Secretary Gillian Keegan said:
Providing children with the best education sets them up for a better future, which is why we are funding our schools at record levels and have awarded our fantastic teachers with the highest pay award in 30 years.
This investment means every pupil in England will receive a world class education and our brilliant teachers will have the resources they need to continue to inspire the next generation.
Nationally, funding for mainstream schools through the schools NFF will increase by 2.7% per pupil in 2024-25 (compared to this year), as schools continue to benefit from the additional funding announced in the Autumn Statement.
For 2024-25, every mainstream school will attract at least £4,655 per pupil for primary schools and at least £6,050 per pupil in secondary schools through the NFF.
The schools NFF funding sits on top of the additional funding for teachers’ pay announced in July 2023. The Teachers Pay Additional Grant (TPAG) provides £482.5 million in 2023-24, and £827.5 million in 2024-25 for mainstream schools, special schools and alternative provision schools.
Today’s funding announcement confirms how the vast majority of school funding will be allocated next year, supporting headteachers to meet their day-to-day costs. Schools can use an online tool to see their notional allocations through the NFF, to help with their budget planning.
Funding allocations announced today are key to this government’s plans to raise school standards across the country and as of December 2022 88% of schools were rated ‘good’ or ‘outstanding’, compared to just 68% in 2010.
The Department for Education has also published local authorities’ provisional high needs NFF allocations for 2024-25. This funding, to support children and young people with complex special educational needs and disabilities, is increasing by a further £440 million, or 4.3%, in 2024-25 compared to this year. This brings the total high needs budget to £10.54 billion in 2024-25 – an increase of over 60% in just five years. The additional funding for teachers’ pay in special schools and alternative provision schools is on top of this.
The high needs NFF will ensure that every local authority receives at least a 3% increase per head of their 2-18 population, with the majority of authorities seeing gains of more than 3%.
The latest data by the OECD shows that the UK invested more than any other G7 nation in schools and colleges as a share of GDP between 2010-11 and 2019-20, showing Government’s continued commitment to prioritise funding the education system.
