On Monday 17th July 2017, the Education Secretary, The Rt Hon Justine Greening MP, announced a significant additional investment for schools in England, to support the transition to a national funding formula from April 2018.
The introduction of a national funding formula will begin to ensure that funding is distributed fairly and transparently, ending the current unfair postcode lottery, and getting resources to those schools who need them most.
Earlier this year, Richard Harrington MP invited four Headteachers from Watford to meet with the Schools Minister Nick Gibb MP so that they could discuss the impact of introducing a fairer funding formula. The Watford MP was delighted that, following this meeting, the Department for Education announced further funding for schools during this transition phase.
The additional £1.3 billion spending on schools is on top of the commitment made at the 2015 Spending Review. Core funding for schools and high needs will rise from nearly £41 billion in 2017-18 to £42.4 billion in 2018-19, and to £43.5 billion in 2019-20. This represents an increase of £2.6 billion between this year and 2019-20, and funding per pupil will now be maintained in real terms for the remaining two years of the Spending Review.
This additional investment in schools will be funded in full from efficiencies and savings that have been identified within the Department for Education, rather than higher taxes or more debt.
Richard Harrington, MP for Watford, said:
" I think it's absolutely right that the Government ends the current unfair funding formula for schools, but when these proposals were announced, I was keen to talk to Ministers about what will be done to support schools when it's first introduced. After meeting with the Schools Minister and writing to the Secretary of State, I was pleased to learn that the Department for Education will be providing an additional £1.3 billion for spending on schools, so that no school will lose out as we move over to a fairer funding formula. I really welcome the fact that Ministers have listened to teachers and parents, and provided more money for our schools.I will be writing to all local headteachers to let them know. "