Commenting on a report by the IFS into school budgets and education spending, Paul Whiteman, general secretary of school leaders’ union NAHT, said: “There are many urgent areas for the government to spend on, but education must surely be one of the most urgent. Investment into children and their futures is money that is repaid many times over in its later benefit to the economy.

“As this IFS report states, school budgets were cut in real terms over the last decade of austerity under the last government, and any recent funding increases have been absorbed by rising costs. School leaders are telling us that all the efficiencies that can possibly be found have been made – now we are hearing of redundancies and reductions in resources and support. School leaders’ ambitions for their pupils cannot be delivered if per pupil funding is allowed to once again fall to 2010 levels in real terms.

“Schools simply don’t have any leeway for further cuts – and a lack of fresh investment is a cut. We desperately need to see new money and sustained investment from the Treasury. While public finances may be tight, it remains essential that children’s education and futures are prioritised, and it’s vital this is reflected in the three-year spending review in June.”