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For the current academic year 2019-20, the department is protecting the base rate of funding at £4,000 for 16 to 19-year-olds at all types of provider, including sixth forms colleges. We are continuing to provide additional funding, for example over £500 million to support disadvantaged students. One new element of funding in this academic year is the advanced maths premium which provides additional funding of £600 for every additional young person studying specified level 3 maths qualifications. Our commitment to the 16 to 19 sector has contributed to the current record high proportion of 16 and 17-year-olds who are participating in education or apprenticeships, the highest since consistent records began.
My right hon. Friend, the Chancellor of Exchequer announced on 31 August 2019 that the government will invest an extra £400 million in 16-19 education in 2020-21. This represents an increase of 7% in overall 16 to 19 funding and the biggest year-on-year increase since 2010, with funding increasing faster for 16-19 than in 5-16 schooling. This will ensure that we are building the skills that our country needs to thrive in the future. As part of this, the base rate of funding for all types of providers, including sixth form colleges, will be increased by 4.7% in academic year 2020-21, from £4,000 to £4,188.