The Government has today announced a fairer system for funding schools that based on this year’s pupil data would see Croydon receive a 5.9% increase in its per pupil funding for the year 2015-16, the ninth highest increase of any council in the country worth £12.4 million.
It is great news for young people in Croydon that this Government is changing the way it distributes school funding to different parts of the country. For the first time in a decade, funding will be allocated on the basis of the current characteristics of pupils and schools, not historic patterns of spending. With Croydon changing rapidly the old formula underestimated the level of need in our schools.
Today’s announcement is the result of a lot of detailed work that’s been going on behind the scenes, in which I’ve been heavily involved. And the Government has made it clear that it is just the first step toward a single national funding formula.