Best Practice

School funding: What does the Autumn Statement mean in 2023 and beyond?

An additional £2bn is to be added to the core school budgets in each of the next two years – but what does this mean for your financial planning now? Specialist Julia Harnden offers her analysis to help you prepare for 2023 and beyond

In November, chancellor Jeremy Hunt delivered his first fiscal statement. It was, of course, the second fiscal statement of the autumn term. The first – the disastrous “mini-budget” which largely ignored education – was in September. The November statement lasted about 60 minutes and the accompanying document is 70 pages long (HM Treasury, 2022). Here are the things you need to know about it.

First a health warning: The following is based on the information available at the time of writing…

The money

The November Autumn Statement confirmed that an additional £2bn will be allocated to the core school budgets in each of the next two funding years, starting April 2023.

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