Schools across Milton Keynes are set to receive a £8,484,278 boost from the Conservative Government in a move that has delighted local MPs Ben Everitt and Iain Stewart.
Every state school in England will receive extra cash following the additional £2 billion investment. A typical primary school will receive approximately an extra £35,000, and £200,000 for a typical secondary school.
The Institute for Fiscal Studies has highlighted this uplift will mean 2024–25 will be the highest spending year in history for schools. In total the schools budget will be £58.8 billion in 2024-25 – meaning the Conservative Government is putting more into school than ever before. It also means school funding is set to rise faster than forecast inflation in both 2023–24 and 2024–25.
Schools will receive their first payment by 10 May 2023 and will be able to choose how best to invest the extra funding, including to pay for teacher salary uplifts and teaching assistants.
The remainder of the £2 billion funding boost will be used to increase Pupil Premium funding rates, which are rising by five per cent in 2023–24. This extra funding will support disadvantaged pupils, local authorities’ high needs budgets, and special schools, making sure every child with special educational needs and disabilities receives the support and high quality education they deserve.
"Every child in Milton Keynes, no matter what their background, deserves a world class education and we have some fantastic schools all across the city so I'm delighted they will be receiving more than £8 million in extra funding.
"I am passionate about ensuring our young people get the skills they need to have a successful career and with the number of incredible businesses we have locally, I hope those careers will all be right here in Milton Keynes!"
Gillian Keegan, the Education Secretary, added: "I am hugely grateful to all our fantastic teachers, school leaders and support staff for all their incredible work and the immeasurable impact they have on the lives of children every day.
“Teachers must continue to have the resources they need, and this extra cash will make sure that they do.
“With school funding set to be at its highest ever level next year, even accounting for inflation, parents everywhere can be confident schools are being supported to let teachers get on and do what they do best - teach.”
