- The announcement from the government indicates that schools in England will receive their highest-ever funding rates.
- The allocated funding for schools in 2024-25 is set to reach nearly £60 billion, marking an unprecedented investment in education.
- In the upcoming academic year, schools in Chelsea and Fulham are slated to receive a total funding amount of £73,246,318.
Greg Hands MP has expressed his approval of the government's decision to allocate record-high funding to schools in England for the 2024-25 academic year, as additional funds will be received through the National Funding Formula (NFF).
On average, mainstream schools in England will receive approximately £6,000 per pupil from the NFF, with supplementary funding allocated for teachers' salaries. Funding per pupil is expected to reach its highest-ever level in real terms in 2024-25, underlining the government's dedication to providing every child with a top-tier education.
This funding can be utilized for various purposes such as staff salaries, educational outings, and classroom resources, ultimately enhancing educational standards and outcomes. These funding boosts are part of the government's plan to inject an additional £9.8 billion into schools' core budgets by 2024-25 compared to previous years.
Additionally, teachers in England have been granted the highest pay increase in 30 years, with a 6.5% raise, aligning with the government's pledge to raise the minimum starting salary for teachers to £30,000 starting in September.
This agreement is expected to prevent potential strike actions by teachers and school leaders, supporting the vision for a future where all children receive high-quality education and possess the necessary skills for success.
Nationally, mainstream schools will see a 2.7% increase in funding per pupil building upon the Autumn Statement. Under the NFF every mainstream school is guaranteed to receive £4,65 per pupil for primary schools and £6,050 per pupil for secondary schools in 2024-25.
Recent OECD data highlights the UK's significant investment in schools and colleges relative to GDP compared to other G7 nations, reaffirming the government's ongoing commitment to prioritizing education funding.