Gareth Davies MP has today welcomed the first payments of an almost £3 million cash boost to schools in Grantham, Stamford, Bourne, and surrounding villages as part of the allocated extra funding for the next academic year.
This additional cash is part of a £2 billion injection of new funding for schools – being made in both this year and next year – topping up budgets to help headteachers manage higher costs like energy bills and teacher pay.
Across every state school in England, a typical primary school will receive approximately £35,000 and a typical secondary school approximately £200,000. The majority of this funding is allocated on a per-pupil basis, and disadvantaged pupils attract additional funding to their school.
The remainder of the funding boost will be used to increase Pupil Premium funding rates, which are rising by 5% in 2023-24, to support disadvantaged pupils and local authorities’ high needs budgets which support special schools.
The boost means that schools budgets are rising by £3.5 billion next year, and national funding will be at the highest ever level in real terms per pupil by the next academic year.
