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Schools: Finance

Answer

On 6 December, the Department confirmed further details on how the £2 billion additional funding for schools announced in the 2022 Autumn Statement will be allocated in 2023/24.

£400 million will be allocated to Local Authorities’ high needs budgets, with the rest allocated to schools through a new grant, and to boost the pupil premium.

Mainstream schools will receive this additional funding through a new grant from April 2023, on top of the core funding allocations they receive via the National Funding Formula. The methodology for calculating allocations for schools via this new grant will largely mirror that of the 2022/23 Schools Supplementary Grant. The Department will publish further details and funding rates for the new grant before the end of December 2022.

For a typical primary school with 200 pupils, this new revenue equates to approximately £28,000 additional funding. It equates to approximately £170,000 for a typical secondary school with 900 pupils.

Local Authorities will be obliged to pass on increases comparable to that for mainstream schools to special and alternative provision schools, from the £400 million that will be allocated to their high needs budgets. The Department will confirm details on how this will work shortly.

Secondary information

Type

Written question

Reference

102848

Session

2022-23

Related items

Autumn Statement 2022
Thursday, 17 November 2022
Command papers
House of Lords
House of Commons

Subjects

Finance Schools

Link

View this Written question on www.parliament.uk