Since 2010, this Government has protected the core schools budget. This year, it is the largest ever on record, totalling over £40 billion. It will continue to rise for the rest of this Parliament, as pupil numbers rise.
We are currently consulting on a national funding formula for schools, which will be implemented from 2018-19. Our proposals for funding reform will mean that schools will, for the first time, receive a consistent and fair share of the schools budget, so that they can give every child the opportunity to reach their full potential.
Schools in the North East would overall gain 1.0% per-pupil as a result of our proposals and 60% (622) of schools in the region would see an increase in funding.
Schools that are due to gain funding will do so quickly, with increases of up to 3% per pupil in 2018-19 and 2.5% in 2019-20.
To ensure stability for schools, we have proposed substantial protections to limit reductions to any individual school’s budget to manageable levels. No school will face a reduction of more than 1.5% per pupil per year or 3% per pupil overall.
We are also supporting schools to improve their financial health and efficiency. We have produced a collection of tools, information and guidance, which can be found at: https://www.gov.uk/government/collections/schools-financial-health-and-efficiency.
This collection includes benchmarking tools and the recently published Schools’ Buying Strategy which will help schools make significant savings, over £1 billion a year by 2019-20, in non-pay and procurement costs.