THE MP for South Dorset has welcomed plans for a fairer funding formula for schools.

Last week, the Secretary of State for Education, Justine Greening, announced the new formula.

The government hopes it will see more than 10,000 schools receive extra money.

Richard Drax, MP for South Dorset, has welcomed the proposals, saying that it will mean an increase for Dorset, as one of the poorest funded authorities in the country.

He said: "I have long supported fairer funding for schools.

“Dorset is one of the poorest funded authorities in the country under the current system. Once these new proposals are implemented, starting in 2017-2018, children with similar characteristics, and similar needs, will attract similar levels of funding - regardless of where their family happens to live.”

Mr Drax was one of 111 MPs who wrote to the Prime Minister in October 2015 demanding an overhaul of the arrangements.

F40, the fairer funding for schools campaign, which has been calling for an overhaul of the current funding formula for 20 years, also broadly welcomed the proposals.

The aim of the new formula, which will now go out for consultation, is to ensure schools are funded based on the needs of pupils rather than by their postcode.

Speaking to MPs, Mrs Greening, said: "Our proposed reforms will mean that schools and local authorities across England that have been underfunded for years will see their funding increase.

"Our proposed formula will result in more than 10,000 schools now gaining funding and more than 3,000 of them receiving an increase of more than five per cent.

"Of course those that are due to see gains will also see them quickly with increases of up to three per cent in per pupil funding in 2018/19 and up to a further 2.5 per cent in 2019/20.

"At the same time, though restoring fairness to the funding system we are also building significant protections into our formula.

"No school will face a reduction of more than three per cent per pupil overall as a result of the new formula and none will lose more than 1.5 per cent per pupil per year."

The Local Government Association has said that while it has long called for a new system it is essential that the new formula is phased in over time to protect the schools that face reductions.