Some schools in Milton Keynes could see funding increases of up to 13% as a result of the Government’s new national funding formula.
The Secretary of State for Education Justine Greening set out the Government’s final decisions on the national funding formula for schools and high needs yesterday (14th Sept). Schools across Milton Keynes look set to receive, on average, a 7% increase in funding which is over £12.3m.
The new formula puts Milton Keynes in the top 10 areas seeing the biggest rises.
The national funding formula will come into effect from April 2018, delivering on the Conservative manifesto pledge to make school funding fairer.
The news was warmly welcomed by Milton Keynes Conservative MPs who have been pressuring ministers for additional funding.
Milton Keynes North MP Mark Lancaster said:
“This is good news for pupils, parents and teachers across Milton Keynes. The new formula is a significant change and will allow funding based on the individual needs and characteristics of every school.
With a fast growing population it is absolutely right that Milton Keynes receives additional support. I have been arguing for that ever since becoming an MP and I am glad that has happened in recent years and will continue under the new formula.”
The announcement follows the decision taken in July that an additional £1.3 billion is to be invested into schools and high needs over the next two years, on top of existing spending plans.