Schools in England are set to receive their highest ever funding in real terms, totalling almost £60 billion in the next financial year.
Through the National Funding Formula (NFF), mainstream schools will attract at least £4,655 per pupil for primary schools and at least £6,050 per pupil in secondary schools through the NFF. Additional funding for teacher pay will be coming on top of that, with money than ever before is being invested in schools to ensure 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.
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.
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.
Commenting, Leo Docherty MP said:
"This is a significant into our schools by the Government, which will help to ensure that every child here in the Aldershot constituency receives the best education possible to set them up for a better future.
"With the highest pay award for our fantastic teachers in 30 years, this will ensure schools have the resources they need to continue to deliver a world class education."