Today I will be making an oral statement in the House, updating on the schools and colleges funding package announced by the Prime Minister last weekend.
The package includes a cash increase compared to 2019-20 of £2.6 billion to core schools funding next year, with increases of £4.8 billion and £7.1 billion in 2021-22 and 2022-23 respectively.
This is in addition to the £1.5 billion per year that we will continue to provide to fund additional pension costs for teachers over the next three years.
We will also be investing an extra £400 million in 16-19 education next year—the single biggest annual increase for the sector since 2010.
My statement will set out core schools funding at a national level. Illustrative school level allocations and provisional local authority level allocations through the schools and high needs National Funding Formulae will be announced next month. I will then write to Members with further details on the impact for schools and local areas.