- Young people to benefit from cash boost so they continue to
have access to high-quality courses including T Levels, A levels
and other technical and vocational qualifications.
- Targeted funding increases to support engineering,
construction and digital subjects to help with the additional
costs of teacher recruitment and retention for these key
subjects.
- Part of the government’s drive to make sure more young people
climb the ladder of opportunity and businesses can tap into the
skilled workforce they need for the future.
Young people aged 16-19 are set to benefit from a funding
boost that will ensure they can continue to access
high-quality education and go on to secure great jobs.
The government has today (Monday 9 January) announced increased funding
rates worth an additional £125 million for schools, colleges
and other providers delivering education to 16- to 19-year-olds
next year (2023 to 2024).
The funding will mean young people, regardless of where they live
or their background, will continue to have access to the courses
and qualifications they need to build successful careers. These
include T Levels and A levels and will also help meet the future
skills needs of businesses and the economy.
Minister for Skills, Apprenticeships and Higher Education said:
Our ambition is to transform young people’s life chances by
giving them the chance to climb the education and skills ladder
of opportunity.
That is why we are investing in resources and skills
qualifications that will offer more learning for students and
access to high-quality qualifications including T Levels, A
Levels and technical qualifications.
The funding announced today will see:
- The national funding rate for students aged 16 and 17 and
students aged 18 and over with high needs increased by 2.2% to
£4,642. In addition, funding will continue to be provided for an
extra 40 hours per student to support them catching up on time
lost due to the pandemic.
- An increase in funding rates for engineering, construction,
and digital subjects to help education providers with the
additional costs of recruiting and retaining great teachers so
young people benefit from excellent teaching.
The funding is part of the £1.6 billion for further education
announced at Spending Review in 2021. It is in addition
to the extra £291m announced for 16 to
19 education in 2021 to 2022 and the £400m increase in funding
that the government provided in 2020 to 2021.
Additional information
- We are making increases in funding rates which will add £125m
to spend in financial year 2023-24, in addition to increases
arising from growth in student numbers and the roll-out of T
Levels. That will be an extra £85m from a 2.2% increase in
the 16-19 base rate of funding, and an increase of £40m in
subject specific funding, with increased weightings for
engineering, construction and digital to help with the costs of
recruitment and retention of teachers in these specific high
value vocational areas.
- On 27 October 2021, the Chancellor of the Exchequer
announced a three-year
spending review outcome for 16 to 19 education, making
available an extra £1.6 billion in 2024 to 2025 financial year
compared with 2021 to 2022.
- Institutions will receive the additional funding per student
from the start of the 2023/24 academic year.
