Government pledges national funding formula for schools

Kasmira Jefford
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MICHAEL Gove’s Department for Education will see its budget nudged up to £53.2bn as the chancellor pledged yesterday to ringfence core funding in schools.

Osborne also plans to introduce a national funding formula to even out the imbalances between different regions, with the lowest funded local authorities receiving extra funding per pupil.

“School funding across the country is not equally distributed, but distributed on a historical basis with no logical reason...It’s unfair and we’re going to put it right,” he said.

The government will also provide funding for 180 more free schools in 2015-16, but university students will see no increase to grants. Osborne has also ringfenced the science budget within the Department for Business Innovation and Skills, which will see its total budget cut by six per cent.

Science spending will be frozen at £4.6bn in cash terms while the capital budget will rise to £1.1bn, and stay at that level “until the end of the decade”.