New funding model for schools announced by Education Secretary

In a statement to MPs Justine Greening said more than 3,000 schools will receive an increase of more than 5% as the Government looks to create a fairer system of funding.

Meanwhile, any schools losing out under the new deal will have their losses limited with none to face an overall reduction in per pupil funding of more than 3%.

The aim of the national funding formula is to ensure schools are funded based on the needs of pupils rather than by their postcode.

However, Cllr Martyn Cox, chairman of governors at Bolton Sixth Form College, believed that Bolton schools would not see much of a difference.

He said: “I don’t see what real difference it is going to make, education funding has been protected since 2010.

“It’s not going to have an adverse affect on schools but I can’t see that it is any reason to be celebrating.

“For most schools it will be fiscally neutral, it would be astonishing given current budget pressures if funding was to be increased.”

Consultation on the Government’s funding formula is due to run for 14 weeks until March 22, with final decisions to be made before summer 2017 - and the final formula to be rolled out in 2018/19.