The Education Department in the U.K. plans to enhance the country’s education system by providing the additional investment in facilities and academic programmes.
The supplemental budget may include different necessities, from infrastructure such as canopy structures for schools and sports facilities. Education Secretary Justine Greening said that the extra funds in 2018-2020 would help British schools to provide a world-class education.
Due to the additional budget, schools in the U.K. will have £42.4 billion of core funding for 2018-19 and £43.5 billion in 2019-20. The budget for this year amounted to £41 billion.
This means that spending for each student in the country will increase by 0.5 percent and up to 3 percent for each pupil from underfunded schools. The Education Department plans to use funds from its budget’s efficiencies and savings, according to Greening.
The department will still move forward in supporting the free schools programme and adding 140 new schools, with 30 of those projects delivered via the local authority route instead of the free schools route, the secretary added.
Greening confirmed that the government would also launch a national funding formula for education. The proposed scheme will make sure that funding will be equally distributed to schools from 2018-19.
For the next two years, it will create indicative funding for every school, while the overall budget for every local authority will be distributed based on the funding formula. It will also require schools to comply with national agreements on energy-efficiency to save on costs, according to Greening.
At the same time, schools with the worst funding problems will be under the oversight of efficiency experts.
Investments in education remain an important part of any country’s socio-economic development. U.K’s plan to boost funding for its schools certainly represents a step towards the right direction.