As widely trailed, the Government has announced substantial increases to education spending of six per cent a year for the next three years, after inflation, matched by reform to secure better results for pupils right across the country.In the Chancellor’s spending review it was education which was the biggest new winner, with previous promises of cash for the NHS already announced in the budget.
The key money spending goes as follows:
– spending on education and skills in England is set to rise by an average of 6 per cent a year in real terms over the next three years, taking it from 45.0 billion pounds in 2002-03 to 57.8 billion in 2005-06.
– the Budget for the UK’s armed forces will increase by 3.5 billion to 32.8 billion pounds by 2005-06.
– spending by the Department for Transport will grow by 12 per cent a year in average annual real growth terms
– significant new investment to continue the fight against crime. Targets to reduce robbery, vehicle crime and burglary will be delivered over the next three years.
– details of all departmental settlements are published in the White Paper ‘Opportunity and Security for All: Investing in a fairer, more enterprising Britain’.