The overhaul of national school funding was pledged by the Conservatives in their General Election manifesto and education secretary Nicky Morgan hinted earlier this month that plans would be forthcoming for consultation early in the new year.
Mr Osborne confirmed that the “arbitrary and unfair school funding system” would be phased out, with consultation over how this should happen beginning in the new year and being led by the Department for Education.
The chancellor also confirmed that the government will hold the Pupil Premium at its current rate of £2.5 billion a year.
He also said that schools funding will be protected in line with inflation, with £23 billion to be invested in school buildings. His target is to create 600,000 extra school places including 500 new free schools and University Technical Colleges.
Register now, read forever
Thank you for visiting SecEd and reading some of our content for professionals in secondary education. Register now for free to get unlimited access to all content.
What's included:
-
Unlimited access to news, best practice articles and podcast
-
New content and e-bulletins delivered straight to your inbox every Monday and Thursday
Already have an account? Sign in here