MSc Economics (Distinction), University College London, 2016
BA Economics (1st Class), University of Cambridge, 2013
Chris Belfield is a Research Economist at the Institute for Fiscal Studies. His research interests include human capital investments at various ages: the interaction between maternal labour supply and child development; the impact of funding and policy decisions in schools; and the design of the higher education system.
School Funding Reform in England: a smaller step towards a more sensible system, will the final leap ever be made?
Last week, the Secretary of State for Education announced arrangements for school funding in England in 2018–19 and 2019–20. This confirmed additional annual funding of around £900m by 2019–20 (as compared with pre-election plans) and announced the amended plans for the national funding formula. Under these new proposals, the funding local authorities receive for schools will be linked to local area characteristics; however, a new national school-level formula will now not be in place until at least 2020–21. This is a smaller step than planned prior to the election – although still one in the right direction. The slower pace of reform and additional money also mean that schools losing out under previous plans will probably see their funding situation improve slightly. This observation describes the current system, why reform is needed and the likely effects of the latest proposals.