Schools in England are poised to benefit from their highest-ever funding in real terms, with an allocation of nearly £60 billion designated for the 2024-25 academic year. The government has announced this additional funding through the National Funding Formula (NFF). With the aim of equipping schools with the necessary resources to deliver a world-class education.
Under the NFF, mainstream schools in England will receive an average of approximately £6,000 per pupil. Furthermore, additional funding has been allocated for teacher pay. Resulting in a significant investment in schools that ensures every child receives a quality education. According to the Independent Institute for Fiscal Studies (IFS), the funding per pupil in 2024-25 will reach its highest-ever level in real terms. Reaffirming the government’s unwavering commitment to education.
This increased funding enables schools to allocate resources towards staff salaries, school trips, and classroom equipment. Ultimately enhancing school standards and improving educational outcomes. These funding boosts are part of the government’s comprehensive plan to invest an additional £9.8 billion in the core budget of schools by 2024-25, compared to 2021-22.
Teachers in England Receive Highest Pay Award in 30 Years
In addition to the increased funding, teachers in England have recently received the highest pay award in 30 years, with a 6.5% increase. The government fully accepted the recommendations put forth by the independent pay review body. Thereby fulfilling its manifesto commitment to raise the minimum starting salary for teachers to £30,000 from September. This substantial pay increase has resulted in the cancellation of strike action by teachers and school leaders.
These initiatives align with the Prime Minister’s vision of building a better future. By ensuring that all children, regardless of their location, receive the highest standard of education and acquire the necessary skills for the future.
Education Secretary Gillian Keegan expressed her views on the matter. Emphasising, “Providing children with the best education sets them up for a better future. That is why we are funding our schools at record levels and have awarded our fantastic teachers with the highest pay increase in 30 years.”
This significant investment in education underscores the government’s unwavering commitment to prioritising the well-being and development of young learners. Empowering them to reach their full potential and make valuable contributions to a prosperous society.
