Chancellor announces £400 million investment for 16-19 year olds’ education
Providers of 16-19 education such as further education and sixth form colleges will receive £400 million additional funding
Providers of 16-19 education such as further education and sixth form colleges will receive £400 million additional funding to train and teach our young people the skills they need for well-paid jobs in the modern economy, the Chancellor has announced. The boost is the single biggest annual increase for the sector since 2010.
On a visit to the FE college in Bristol where he studied economics, maths and computer science, Chancellor Sajid Javid said:
"Further education, like all our public services, is a lifeline of opportunity for our young people.
"We’ll make a strong statement in backing it at this week’s Spending Round and I’ll continue to look at what more we can do to help, just as my FE college opened my horizons and set me on my way."
Education Secretary Gavin Williamson said:
"As former FE students, the Chancellor and I both know first-hand how important the further education sector is so I’m really pleased that today that government is giving our sixth forms and colleges a major funding boost - the single biggest annual uplift since 2010.
"This investment will make sure we can continue to develop world-class technical and vocational education to rival countries on the continent so we have a highly skilled and productive workforce for the future."
This includes protecting and increasing the base rate with funding worth £190 million to boost access to high quality courses for more than a million 16-19 year olds. Colleges and school sixth forms will also get £120 million to help deliver expensive but crucial subjects such as engineering which lead to higher wages and, ultimately, a more productive economy.
There will be £35 million more for targeted interventions to support students on level 3 courses (A level equivalent) who failed GCSE Maths and English, so they can re-sit their exams in these critical subjects.
Colleges and further education providers will receive an extra £25 million to deliver T-levels. The new qualifications start rolling out in September 2020 and will transform vocational education with two-year courses in subjects as varied as accounting, digital production and onsite construction.
The advanced maths premium, which adds £600 to college budgets for every additional student who takes on A- and AS- level maths, is also funded with £10 million additional funding.
A new £20 million investment will also help the sector to continue to recruit and retain brilliant teachers and leaders, and provide more support to ensure high-quality teaching of T Levels.
The announcement forms part of the Spending Round so covers the financial year 2020-21. The money announced today will be allocated across the 257 colleges in England, as well as other FE providers, including school sixth forms.
The Barnett formula for Scotland, Wales and Northern Ireland will be applied in the usual way with block grant amounts confirmed at the Spending Round.