In 2013/14, the base rate of funding for 16-19 education was £4,000. Using the most recent GDP deflators to calculate the value of this rate at 2019-20 prices produces a figure of £4,435.
We are investing an extra £400 million in 16 to 19 education in 2020-21 to ensure we are building the skills that our country needs. This is the biggest injection of new money into 16 to 19 education in a single year since 2010, with funding increasing faster for 16 to 19 education than in 5 to 16 schooling. This includes a 4.7% increase in the base rate to £4,188. With other funding announced, such as an additional £120 million of funding for high cost and high value subjects and £35 million to support students with Maths and English GCSE retakes, this represents an increase of around 7% in overall 16 to 19 funding.
Funding for future years beyond 2020-21 will be considered as part of the next Spending Review.