Primary schools could lose as much as 10% of their funding if Government plans to shake up funding allocation go ahead, according to the Institue for Fiscal Studies (IFS).
Local authorities are widely using a system that’s actually seen no change since the turn of the millennium. The Government’s keen to introduce a standardised national formula, which will calculate how much each school will receive.
Local authorities currently dish out funds in their local area. Schools with a high intake of children with special needs and those with a large amount of non-English speaking children benefit the most from this method. As much as a £3,000 difference in funding allocation is possible when comparing two similar primary schools across the county. Ministers are keen to lower this variation.
Schools in the North East would be hit the hardest, the IFS claims. While funding is being changed, the change in the number of students – whether that be higher or lower – doesn’t seem to be being taken into account.
It’s not all doom and gloom though – one in 10 schools could actually see a 10% increase in funding. Schools in North London, Derbyshire and Warwickshire would benefit the most from the Government’s proposed single formula scheme.