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School Funding Reform

I welcome the Secretary of State's statement. This long overdue review of the funding formula will ensure that there is a much fairer system across the country, and will involve looking at the possible double funding of local authorities and any potential overpayment that academies have had over and above LACSEG—the local authority central spend equivalent grant. That is due to replace the services that local authorities provide. On capital, will he ensure that there is a constant review to see whether there is any underspend from any other programmes in the Department or other money that could be channelled elsewhere? Will he also ensure that schools that need renovation or rebuilding will be prioritised?