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<p>The Government is committed to providing a world class education system for all
children. The Autumn Statement 2022 announced additional funding of £2 billion in
2023/24 and 2024/25, over and above totals announced at the 2021 Spending Review.
This means funding for mainstream schools and high needs is £3.5 billion higher in
2023/24, compared to 2022/23. That is on top of the £4 billion, year on year increase
provided in 2022/23. This represents an increase of £7.5 billion, or over 15%, in
just two years.</p><p>Total funding for both mainstream schools and high needs will
total £58.8 billion in 2024/25, the highest ever level in real terms per pupil. After
accounting for the new pay offers in 2023, the Institute for Fiscal Studies estimates
that school funding is still growing faster than school costs.</p><p>In addition
to this core revenue funding, schools receive funding through a number of separate
streams. This includes the Universal Infant Free School Meals funding, the recovery
premium and the National Tutoring Programme to support education recovery following
the COVID-19 pandemic.</p><p>The Department also has a capital budget of £7 billion
for 2023/24, which funds a range of programmes for schools, such as the school rebuilding
programme. Information about this programme is available at: <a href="https://www.gov.uk/government/publications/school-rebuilding-programme"
target="_blank">https://www.gov.uk/government/publications/school-rebuilding-programme</a>.</p><p>This
additional funding will enable head teachers to continue to spend money in the areas
that have a positive effect on educational attainment, including high quality teaching
and targeted support to the children who need it most, as well as to help schools
to manage higher costs.</p><p>The Department’s Schools Resource Management offer
includes a free range of practical tools and information to help all schools unlock
efficiencies on, for example, how to save money on regular purchases such as classroom
resources.</p>
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