§ Mr. Miliband
The minimum funding guarantee for schools, which is based on a 4 per cent. per pupil increase with adjustments for changes in pupil numbers, will apply for the financial year beginning 1 April 2004. The guarantee will also operate in the 2005–06 financial year, on a basis to be finalised when we have reviewed the way it is working in its first year. The guarantee is an important element of our arrangements for stabilising school funding over the next two years.