The £23 billion will allow us to open a further 500 free schools, support the provision of over 600,000 additional school places, rebuild and refurbish over 500 schools and address essential school maintenance needs.
We have already allocated £7 billion for the creation of new school places this parliament. We are currently in the process of determining allocations for future years.
Between 2015 and 2018 we will also invest £4.2bn of allocations across schools, local authorities, academy trusts and voluntary aided partnerships to improve the condition of those schools. We will announce details of condition allocations beyond 2018 in due course.
We are delivering £2.4 billion of investment across 260 schools through the first phase of the Priority School Building Programme (PSBP), which began in 2012 and is now into the delivery phase.
A further £2 billion across 277 schools will be invested through the second phase of the PSBP by 2021.