The Department for Education have today announced the funding rates which will apply from April 2024, including for the new entitlements launching from that date. They have also published the response to the consultation on the new funding rates.
National average funding rates from April 2024 will be:
- £11.22 for under 2s (from September 2024)
- £8.28 for the 2-year-old entitlements (under the previous formula, the disadvantaged 2-year-old rate was £7.95 in Sept and £6.00 in April 2023)
- £5.88 for 3-/4-year-old entitlements (up from £5.62 in Sept 2023 and £5.29 in Apr 23)
- £5.27 MNS supplementary funding (up from £4.63 in Sept and £4.39 in Apr 2023) including the Teachers’ Pay & Pension Grant
- £0.68 hourly rate for EYPP (up from £0.66 in Sept, £0.62 in Apr 2023)
- £910 yearly rate for DAF (up from £881 in Sept, £828 in Apr 2023)
DfE have published an “easy explainer” of the funding rates and full details of the local authority allocations and guidance.
2-year-olds – local authorities can choose whether to pay the same rate for both the disadvantaged 2-year-old entitlement and the entitlement for 2-year-olds with eligible working parents. If they set different rates, the disadvantaged 2-year-old rate must not be lower than the working parents rate.
EYPP, DAF and SENIF are all extended to apply to cover all age groups.
