Croydon schools to receive £12.4m funding boost
Croydon schools will receive a funding boost amounting to millions it was announced today.
The borough will get an extra £12.4 million after it was highlighted as one of the least fairly funded councils in the country by the government.
It means Croydon’s total funding rises from £208.6m to £220.9m, a 5.9% increase and means the average spend per child is £4,830 compared to £4,559.
The funding increase will be available for the 2015-16 financial year.
Croydon is among 15 local authorities that will gain the most out of the changes.
Schools Minister David Laws, who announced the changes in Parliament today, said the current system was out of date and unfair.
Croydon Central MP Gavin Barwell welcomed the news of additional funding.
He said: “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 over the last year, 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.”
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