I will be looking at that in the coming days and hope to be able to update my right hon. Friend shortly. As a result of the lifelong loan entitlement, the UK will be upskilling and reskilling, supercharging our workforce, where the true potential of education to support social mobility, improve skills and beat the cost of living crisis will be unleashed.
Schools and early years are the power behind the great engine of social mobility in this country. I would not be standing here today had it not been for the inspiring teachers who helped me, lifted me up and supported me throughout my school education, and I know many Members across this House feel the same. That is why core funding for schools will rise by an extraordinary £4.7 billion by 2024-25 compared with previously announced plans, and this year, 2022-23, the schools budget will increase by £2.4 billion. The 2020-21 spending review increases that further with another £1.6 billion for the coming year. This will go directly to schools to help them respond to the pressures that so many of them are facing, especially at this time.