Schools: Finance

(asked on 17th February 2023) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, whether she plans to increase funding for schools.


Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 27th February 2023

​The 2022 Autumn Statement announced an additional £2 billion for schools, in addition to the funding announced as part of the 2021 Spending Review.​

​Taking the Dedicated Schools Grant (DSG) allocations and the additional funding announced in the Autumn Statement 2022 together, core schools funding, which includes funding for both mainstream schools and high needs, is increasing by £3.5 billion in 2023/24, compared to 2022/23. The core schools budget will total £57.3 billion in 2023/24 and £58.8 billion in 2024/25.​

​The Institute of Fiscal Studies have said that this additional funding will fully cover expected increases in school costs up to 2024 and will take per pupil spending back to at least 2010 levels in real terms, meaning 2024/25 will be the highest ever level of spending on schools in real terms per pupil.​

​The additional funding will be allocated to mainstream schools through the new Mainstream Schools Additional Grant (MSAG) in 2023/24. This will be on top of schools’ core funding allocations.​

​A typical primary school with 200 pupils will receive approximately £35,000 in additional funding through the MSAG, and a typical secondary school with 900 pupils will receive approximately £200,000.

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