Effect of the new Budget on schools

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Effect of the new Budget on schools

A week after the Budget we look at reactions to the announcements affecting the education sector.

Budget Shorts

A number of education reforms were announced in the chancellor’s Budget speech, which are designed to help address the UK’s current skills shortage.

Others have written about the various areas covered in the Budget – see links below:


Vocational training shake-up ‘most ambitious since A-levels’

Vocational and technical education in England is to get an extra £500m a year in a bid to train more skilled workers and boost the economy.

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From school work to real work – How education fails students in the real world.

The findings show that nearly 45% of 20-35 year olds working in STEM-related roles (Science, Technology, Engineering and Maths) believe the subjects they studied at school are useless in the world of work. A greater number (61%) thought that learning technical skills would have been more useful than studying traditional academic subjects.

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Tory councils warn on school funding

More than a dozen Conservative councils have written to Prime Minister Theresa May to warn of their “alarm” at inadequate school funding in England.

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Budget ignores schools ‘on their knees’ in cash crisis

The chancellor has been accused of neglecting his duty to schools and colleges “on their knees” financially across England in his Budget.

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Education department requests emergency funds after £3bn ‘overspend’

This is the second year in a row in which the Department has had to seek a vote for excess funds after exceeding its budget.

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Reminder that consultation on the National Funding Formula ends on 22 March 2017


Self Employed Contractors – You Need To Check

From 6th April 2017, the responsibility for determining the employment status of contractors to the Public Sector will shift from the contractor to the client. The intermediaries’ legislation, known as IR35 is designed to make sure contractors pay the required tax and National Insurance on earnings.

An online Employment Status Service tool will provide the view of HMRC on whether a worker on a specific engagement should be classed as employed or self-employed for tax purposes.

Although the test is anonymous and doesn’t store information, we would suggest that a printed copy of the result should be kept as evidence to confirm a check was duly completed in order to comply with the legislation.

Teachers’ Pension Scheme – Year End Actions

TPS has now published information about the year-end actions required from academies. Click here for details.


SBS provides expert advice on all aspects of education finance, from service desk support to complete financial management. Learn more about how we can help your school.

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