Around 90% of UK schools will run out of money by Sept 2023. This crisis is due to the lack of enough funding, rising energy bills, forced salary increases and the reduction of parents’ economic power. The financial crisis is seriously damaging education in 90% of UK Schools. Tories are responsible, but people are paying for Tories’ mismanagement.
Schools facing funding crisis
According to the Guardian, Schools in England are facing a funding crisis as costs soar. Schools in England are facing a looming funding crisis. They expect spending per pupil in 2024-25 to be 3% lower than in 2010. This is according to the Institute for Fiscal Studies (IFS) research. Ministers pledged to restore per pupil funding to 2010 levels by the end of the current Parliament. However, the IFS says the government is no longer on track to meet its objective.
According to UK Daily News (2 August 2022), a finance manager said the electricity bill at a trusted secondary school had risen to £213,000 from £75,000 last year. They also worry about handling teachers’ pay raises without additional government funding. The situation in education after 16 years is even worse. Julia Harnden is a funding specialist at the Association of School and College Leaders (ASCL).
She says: “It is a feeble reflection of the government’s priorities that it will have led a 15-year decline in school funding to the end of Parliament. The situation in education after 16 years is even worse, Harnden said, citing an IFS analysis last fall that showed college funding per student in 2024-25 will be 10% below 2010-11 levels, while high school funding per student will be 23% lower.
Around 90% of UK Schools are running out of money.
As the Guardian (22 October 2022) says, nine out of 10 schools in England will have run out of money by the next school year. Early data from the National Association of Head Teachers (NAHT) shows that 50% of heads say their school will be in deficit this year. Almost all expect their schools to be red by next September when their reserve runs out. Jeremy Hunt has said that all departments, including education, will make cuts as part of the government’s debt reduction plan. They will announce the program on 31 October. According to GOV.UK, Jeremy Hunt became Chancellor of the Exchequer on 14 October 2022.
Uk Daily News (22 October 2022) says that 90% of UK schools will go bust next year. Nine out of 10 schools will run out of money by the next school year. Similarly, Almayadeen says that 90% of UK schools will run out of cash by Sept 2023. Ninety percent of schools in the UK will run out of money at the beginning of the next school year. This crisis is due to rising energy bills and forced salary increases, according to a report by The Observer.
UK government’s public debt
The UK government’s public debt is an important issue affecting the schools’ funding crisis. As Economics Help says, the UK national debt is the total amount of money the British government owes to the private sector and other purchasers of UK gilts (e.g. Bank of England). In August 2022, UK public sector net debt was £2,427.5 bn around 96.6% of GDP). This is close to the highest level of public sector debt since 1962.
According to Metro (21 October 2022), the size of the UK’s public debt has surged unexpectedly. A sharp rise in the cost of debt interest payments means the Treasury owes £20 billion as of September. New data from the Office for National Statistics (ONS) shows this. In the same line, Financial Times says that UK government borrowing jumped to £20bn in September.
Consequences of the funding crisis in 90% of UK Schools
The funding crisis that 90% of UK schools are facing has serious consequences. As Metro (23 October 2022) says, the soaring energy cost, inflation and the rise in staff wages have created a school funding crisis. Staff wages have been necessary to keep up with the cost of living. Now there are fears that teaching hours could be cut, along with the staff. NAHT general secretary Paul Whiteman says, ‘Schools are cut to the bone. This will mean cutting teaching hours, teaching assistants and teachers.’ Mr Whiteman continued, ‘It is no exaggeration to say that the future of education is on the line.’ It will negatively impact the education and well-being of children.’
According to Morning Star, National Education Union joint general secretary Kevin Courtney said today: “Schools are running on empty and will have to cut back on teachers and support staff to try and balance the books.” He added, “If we get more of the same, children and young people will end up paying the price.”
NAHT general secretary Paul Whiteman says headteachers have lost around 24% on the value of their salary since 2010. Moreover, education funding will be 3% less in 2024/2025 than in 2010 when the Tories came to power (Metro, 23 October 2022). Tories have destroyed the economy of the UK, including school funding.
Moreover, people suffer from a severe cost-of-living crisis and cannot afford their children’s education. Metro (21 October 2022) says retail sales fell by 1.4% in volume than expected. This shows that people are doing less shopping due to cost of living fears.
The lack of enough government funding for school education and the terrifying cost-of-living crisis threaten education in 90% of UK schools. Why should people pay for the problems that the Tories’ mismanagement has caused?