The details are set out in the schools and high needs national funding formulae consultation, launched yesterday, which closes on 22 March. The national funding formula will be introduced in 2018 to 2019.
The Government said that the while the core schools budget has been protected in real terms since 2010, the system of distributing funding was unfair, opaque and outdated.
The new formula is intended to ensure that children with similar characteristics and similar needs attract similar levels of funding wherever they live.
The current system has resulted in unfairness across the country, the Department for Education said. For example, Coventry receives nearly £500 more per pupil than Plymouth, despite having the same proportion of pupils eligible for the pupil premium.
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