The Importance of Teaching includes plans to establish a new Education Funding Agency (EFA) as an executive agency of the DfE to replace the YPLA.
The EFA will have responsibility for the direct funding of academies and free schools and all 16 to 19 provision. This will include the funding of 16 to 19 provision in further education colleges, sixth form colleges and independent provision.
The white paper suggests that as academy status becomes the norm, the EFA would distribute more funding directly to schools.
The EFA will also distribute school funding resources to local authorities for schools that are not yet academies.
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