Schools: Finance

(asked on 10th July 2023) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, whether she plans to increase the weighting for disadvantage in the National Funding Formula for schools; and if she will make a statement.


Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 18th July 2023

The Government is committed to providing a world class educational system for all pupils and has provided significant funding to achieve that. The National Funding Formula (NFF) distributes funding fairly based on schools’ and pupils’ needs and characteristics.

The Department have now published the NFF for schools and high needs 2024/25, which can be found at: https://www.gov.uk/government/publications/national-funding-formula-for-schools-and-high-needs. It will mean core 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 (IFS). This demonstrates the Government’s commitment to ensuring every pupil receives a world class education.

The NFF targets additional funding to schools which have the greatest number of pupils with additional needs. The 2024/25 NFF will target a greater proportion of funding towards deprived pupils than ever before. Over £4.5 billion, or 10.1%, of the schools NFF has been allocated through deprivation factors in 2024/25. Over £7.9 billion, or 17.8%, will be allocated for additional needs overall. This will help schools in their vital work to close attainment gaps and level up educational opportunities.

On top of this core funding through the NFF, Pupil Premium provides additional funding to support disadvantaged pupils. Pupil Premium rates have increased by 5% in 2023/24, taking total Pupil Premium funding to nearly £2.9 billion. Pupil Premium rates for 2024/25 will be announced later this year, in line with the usual timetable.

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