Schools in England will receive their highest funding ever in real terms, totaling almost £60 billion for 2024-25 when the government today announced the account additional support they will receive through the National Funding Formula (NFF).
Schools in England will receive an average of around £6,000 per student from next year through the NFF, along with additional funding to pay teachers’ salaries. More money than ever is being invested in schools, ensuring every child receives a world-class education.
Overall, funding will be at an all-time high in real terms per student in 2024-25, as measured by the independent Institute for Fiscal Studies (IFS) – highlighting our commitment to government commitment to education.
This money can be used to pay staff salaries, school field trips and classroom equipment that will help raise school standards and educational outcomes. These increases are part of an additional £9.8 billion invested in schools’ core budgets in 2024-25, compared with 2021-22.
This follows news last week that teachers in the UK have been awarded the highest salary in 30 years at 6.5 per cent, after the government fully accepted the recommendations put forward by the independent pay review body. go out. In doing so, the Government will deliver on its manifesto commitment to increase the minimum starting salary for teachers to £30,000 from September. The agreement will enable teachers and school leaders to cancel the strike action.
This will support the Prime Minister’s plans to build a better future where children receive the highest standard of education no matter where they grow up and have the skills they need for the future. .
Education Minister Gillian Keegan said:
Giving children the best education will help them have a better future, that’s why we fund our schools at record rates and reward great teachers. our great with the highest salary in the last 30 years.
This investment means every student in the UK will receive a world-class education and our outstanding teachers will have the resources they need to continue to inspire the next generation. .
Nationally, funding for mainstream schools through NFF schools will increase by 2.7% per student in 2024-25 (compared to this year), as schools continue to benefit from the funding. Supplements are published in the Fall Statement.
Between 2024-25, each mainstream school will attract at least £4,655 per student for primary schools and at least £6,050 per student for secondary schools through the NFF.
The Schools NFF grant sits on top of the Teacher Pay Supplemental Funding announced in July 2023. The Teachers Supplemental Grant (TPAG) provides £482.5 million in 2023- 2024 and £827.5 million in 2024-25 for mainstream schools, special schools and alternative providers.
Today’s funding announcement confirms how much of the school’s funding will be allocated next year, helping principals meet their day-to-day expenses. Schools can use an online tool to view their notable allocations through the NFF, to help with budget planning.
The funding allocations announced today are key to this government’s plan to raise school standards across the country, and as of December 2022, 88% of schools were rated ‘good’ or ‘excellent’. color’, compared with just 68% in 2010.
The Department of Education has also announced the provisional NFF allocation for local government high needs for 2024-25. This funding, to support children and young people with disabilities and complex special educational needs, will increase by £440 million, or 4.3 per cent, in 2024-25 over the previous year. now. This brings the total high-needs budget to £10.54 billion by 2024-2025 – an increase of more than 60% in just five years. Additional funding to pay teachers in special schools and alternative provider schools is paramount.
The high-demand NFF will ensure that every local government receives an increase of at least 3% per capita in their 2-18 year old population, with the majority of administrations receiving an increase of more than 3% .
The latest OECD data shows the UK invested more than any other G7 country in schools and colleges as a share of GDP between 2010-11 and 2019-20, showing a commitment to government’s continued prioritization of funding for the education system.