Schools to be hit with up to £10m cuts in spending power

Schools across South London are set to be hit by cuts in spending power of more than £10million in some boroughs, according to data from the National Education Union.

The Government cuts mean funding per pupil will be reduced by hundreds of pounds compared to the previous financial year.

In Southwark, 90 schools will have less spending power than last year, with funding per pupil cut by £314. Across the borough, schools will see a fall of £11.5million in spending power in 2024/25.

Croydon, Lewisham and Lambeth schools will see cuts of £10.3million, £8.1million and £8million respectively. 

For primary schools in Lambeth, there will be a £207 reduction in spending power per pupil over the next financial year, and in secondary schools there will be a £382 fall in spending power per pupil.

Lambeth’s Liberal Democrats have warned that the fall in spending power will push already stretched school budgets to the brink, with a worse educational experience for pupils and worse outcomes.

This comes as new Government data, released on Friday, showed the Conservative Government has cut the annual growth in funding to state schools across the country – in cash terms – from eight per cent in 2023/24 to 3.1 per cent in 2024/5. 

Lambeth’s Liberal Democrats are calling for the Government to review school funding after the Institute for Fiscal Studies (IFS) concluded that the purchasing power of school budgets in 2024 will still be about four per cent lower than in 2010.

Councillor Donna Harris, leader of Lambeth Liberal Democrats, said: “This Conservative Government has failed Lambeth’s children. Parents in our community should not have to send their children to schools which have had their funding decimated by a Conservative government that has lost interest in providing high-quality education.

“Investing in education is investing in our future but this Conservative Government has let school buildings crumble and overseen a severe shortage of teachers. Far from preparing the next generation for the future, Ministers have totally abandoned them.

“The Liberal Democrats know that investment in education boosts our children’s futures. The Treasury needs to urgently look at increasing school funding”.

A spokeswoman from the Department for Education said: “School funding will be 5.5 per cent higher in real terms per pupil in 2024-25 compared to 2010 when using the statistic based on independent Office for National Statistics and Office for Budget Responsibility data, which is the routine measure of public spending.

“This year alone, funding is over £3.9 billion higher and next year will increase by a further £1.8 billion, taking it to £59.6 billion, the highest ever level in real terms per pupil.”

(Picture: Pixabay/Alicja)