Chancellor Jeremy Hunt has announced that the UK Government will increase funding for schools.
Schools will benefit from the boost which was announced during Thursday's Autumn Budget statement. The Chancellor said he will invest an extra £2.3 billion per year in schools over the next two years.
The Tory MP explained that difficult decisions would need to be made as the UK faces challenging financial times. However, cuts were not made when it comes to the education system across the UK.
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During the statement, Mr Hunt said public spending would grow “slower than the economy” but he stated that the Government would protect the increases in departmental budgets already set out in cash terms, before growing resource spending at 1 per cent a year in real terms over the next three years.
The cash increase will apply for both 2023-24 and 2024-25 – meaning funding will rise by £4.6 billion over the two years.
Hunt said his message to school staff was “thank you for your brilliant work – we need it to continue”.
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