We have set aside up to £40 million additional funding in 2023 to 2024 to support individual schools that find themselves in particular financial difficulties. This is on top of the £525 million schools will already be receiving this year through the teachers’ pay additional grant (TPAG), to support them with the September 2023 teachers’ pay award.
This sum of up to £40 million will be used to expand the department’s existing support route available to academies facing the most difficult financial circumstances; and help local authorities to expand the support they provide to their maintained schools facing the most acute financial pressures.
Where schools are in serious financial difficulty, they should contact their local authority or the Education and Skills Funding Agency (ESFA), as usual, who can provide advice and support on a case-by-case basis.
