Analysis by the School Cuts coalition reveals 91 per cent of all schools in England are affected.
The group warns that budget shortages at the 17,723 schools are leading them to operate with reduced staffing, leaving children with less additional support, particularly around issues such as mental health.
They are also offering fewer subject choices for study and extra curricular activities.
Based on the actual Department for Education funding received by 19,414 schools from 2015/16 to 2018/19, the analysis brings together schools block funding allocations, including a new Teacher Pay Grant for 2018/19, pupil premium and sixth form funding.
In previous analysis, the DfE criticised the coalition for only considering schools block funding.
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