Education funding

I am absolutely determined that children in Mid Derbyshire and around the country should receive a high-quality education. More money than ever before is being invested in schools, ensuring every child gets a world class education. In 2024-25, the total core schools budget will be at its highest ever level, in both real terms and in real terms per pupil. This budget will total over £59.6 billion in 2024-25, an over £1.8 billion increase from this year – on top of the more than £3.9 billion rise in 2023-24. 


Mainstream schools in England will receive an average of around £6,000 for each pupil from next year through the National Funding Formula, with additional funding for teacher pay on top of that. Overall, funding will be at its highest ever level in real terms per pupil in 2024-25, as measured by the independent Institute for Fiscal Studies, underlining the Government’s commitment to education.


This money can be spent on staff salaries, school trips and classroom equipment which will help raise school standards and education outcomes. These increases form part of the additional £9.8 billion being invested in the schools core budget by 2024-25, compared to 2021-22.


This follows the Government giving teachers in England the highest pay award for 30 years of 6.5 per cent, after the Government accepted in full the recommendations set out by the independent pay review body. In doing so, the Government will be delivering on its manifesto commitment to raise the minimum starting salary for teachers to £30,000 from September. This deal will allow teachers and school leaders to call off strike action.


The Department for Education also committed to a long-term School Rebuilding Programme, renovating 500 schools in England over the next decade. In December 2022, the Government announced that a further 239 schools and sixth form colleges have been provisionally selected for the School Rebuilding Programme, which means that in total 400 schools have benefitted to date. The Government has allocated over £13 billion since 2015 to maintain and improve school facilities across England, including £1.8 billion for the 2022-23 financial year, and an additional £500 million in capital funding to schools and colleges this financial year for energy efficiency upgrades.