Schools in England are Jacng bankruptcy

We have barely reached the autumn half term and leaders school are already beginning to worry about what the academic year beginning in September 2023 will hold.

The combined effect of the cost of living crisis with unexpected salary costs have already made it almost impossible for schools to balance budgets in 2022. Head teachers are now warning that worse is to come if urgent action isn't taken.

An open letter, sent jointly by unions and leaders of educational organisations to Conservative MPs, warned of a £2 billion shortfall in school funding by 2024. On average they estimate that secondary schools will face a shortfall equivalent to losing four or five teachers. But of course many schools are far from average: one head teacher simply states that his school will be bankrupt within a year.

While things are undoubtedly more difficult for smaller schools, even large academy chains are experiencing the same crisis. Steve Chalke, founder of the Oasis Trust of over 50 academies, said: "No one is in a position to keep going for very long eating their reserves." So, are the nation's schools really at risk of bankruptcy?

Schools in deficit