In November last year at the Autumn Statement, the Department announced an additional £2 billion in each of the 2023/24 and 2024/25 financial years, over and above totals announced at the 2021 Spending Review.<\/p>
On 13 July 2023, the Department announced an additional £525 million this year, to support schools with the teachers\u2019 pay award, and a further £900 million in the 2024/25 financial year.<\/p>
It means overall school funding is rising by over £3.9 billion this year alone, compared to the 2022/23 financial year, on top of a £4 billion cash increase last year. Combined, that represents a 16% increase in just two years. School funding in 2024/25 will be more than £59.6 billion, the highest ever level in real terms per pupil.<\/p>
This additional funding will enable head teachers to continue to invest in the areas that positively impact educational attainment, including high quality teaching and targeted support to the pupils who need it most, as well as helping schools to manage higher costs, including teacher pay awards.<\/p>
Each year the Department publishes an assessment of schools\u2019 costs and funding, which informs what pay award the Department judges to be affordable for schools from within this existing funding. In March 2023, the Department set out its calculation that schools, on average, could afford a pay award of 4% from within existing funding.<\/p>
The Department decided to fund the 2023 pay award from a lower affordability figure than the 4% calculation, funding the costs of the pay award above 3.5%, on average, rather than above the 4% national affordability calculation. This is a more generous funding offer than back in March 2023, and all four unions have confirmed that this ensures the pay award is properly funded.<\/p>
The Department is also providing a further up to £40 million in addition to the £525 million in the 2023/24 financial year, to support individual schools which find themselves in particular financial difficulties. This is to be allocated on a case by case basis.<\/p>
Although the Department will have to make difficult decisions, the Secretary of State has been clear all frontline services will be protected. Funding for Early Years, SEND, School Conditions and Core School and College Budgets are fully protected. To help fund the pay award, the Secretary of State has also secured exceptional permission from the Treasury to keep money where there have been or will be underspends, which in normal years would have to be returned to Treasury.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/111", "label" : {"_value" : "Biography information for Nick Gibb"} } , "answeringMemberConstituency" : {"_value" : "Bognor Regis and Littlehampton"} , "answeringMemberPrinted" : {"_value" : "Nick Gibb"} , "dateOfAnswer" : {"_value" : "2023-07-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-07-24T16:44:27.707Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2023-07-14", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Schools: Finance"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, with reference to the announcement on 13 July 2023 that schoolteachers will receive a 6.5 per cent pay increase from September 2023, what assessment she has made of the potential effect on educational (a) provision and (b) outcomes of 3.5 percentage points of that pay increase being allocated from school budgets.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4523", "label" : {"_value" : "Biography information for Catherine West"} } , "tablingMemberConstituency" : {"_value" : "Hornsey and Wood Green"} , "tablingMemberPrinted" : [{"_value" : "Catherine West"} ], "uin" : "194234"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 1, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }