One thousand schools could face further 7% funding cut after 2020
The Institute for Fiscal Studies has called on the government to reduce 'uncertainty' for schools over when the funding formula will take full effect.
Around 1,000 schools could face a 7 per cent budget cut after 2019-20 – over and above the real-terms funding losses they are being hit with over the next three years – economists have warned.
A report published today by the Institute for Fiscal Studies (IFS) calls on the government to reduce the "uncertainty" over what will happen when a £300 million pot of transitional funding – aimed at protecting schools set to lose out under the national funding formula – runs out in April 2020.
Under the proposed formula, no school can lose more than 3 per cent of cash per pupil between 2017-18 and 2019-20, and none can gain more than 5.6 per cent. As a result, only 60 per cent of schools will receive the exact level of funding dictated by the formula in 2019-20, the IFS report says.