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Education Funding Update
19 December 2022
Type
Written Ministerial Statement
Department
Department for Education
At a Glance
Issue Summary
The statement provides an update on education funding and the School Rebuilding Programme.
Action Requested
The Department for Education is allocating additional funding of £3.5 billion for schools in 2023-24, including a new Mainstream Schools Additional Grant (MSAG) and increased pupil premium rates by 5%. It also confirms hourly funding rates and allocations for the early years sector, reflecting National Living Wage increases.
Key Facts
- The School Rebuilding Programme will rebuild or significantly refurbish buildings at 500 schools over a decade.
- 239 more schools have been provisionally selected for the programme, bringing the total to 400.
- Core schools funding is increasing by £3.5 billion in 2023-24 compared to 2022-23.
- The Mainstream Schools Additional Grant (MSAG) provides a 3.4% increase in per pupil funding for mainstream schools in the 2023-24 financial year.
- Pupil premium rates will increase by 5%, adding £180 million from 2022-23.
- Early years providers will receive an additional £20 million to support National Living Wage increases.
- The minimum funding floor for the three- and four-year-old funding rate will increase from £4.61 per hour in 2022-23 to £4.87 per hour in 2023-24.
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