Schools in Epsom and Ewell stand to lose more than £2 million under a new funding formula proposed by the government, according to analysis by the teachers’ union.

The cuts, worth £2,342,856 in Epsom and Ewell an estimated £3 billion nationwide, will result in bigger class sizes, staffing cuts and a reduced curriculum, according to the National Union of Teachers (NUT).

The government is running a consultation on a proposed ‘Fairer Funding Formula’ until March 22, which the Department for Education hopes would address historic funding gaps between different areas of the country.

From Wednesday: UK BUDGET 2017: As it happened - the Chancellor's announcements that could affect south London

Chancellor Phillip Hammond MP also announced £530 million for schools across the country – including £320 million for new free schools – as part of his Spring Budget on Wednesday (March 8).

But the NUT said that there would still be real cuts of £3 billion.

Kevin Courtney, General Secretary of the NUT, the largest teachers’ union, said: “There is widespread acknowledgement, including from Conservative MPs, that schools are being hit by much higher costs, most of which are created by the Treasury.

“School funding per pupil is falling at its fastest rate since the 1970s. Cuts to school and sixth form college budgets are already resulting in bigger class sizes, cuts to staffing and reduced curriculum offers.

“The government cannot have failed to recognise the public meetings of parents, teachers, head teachers, governors, local authorities and MPs that have been going on up and down the country about the consequences of their school funding proposals.”

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Former education secretary Justine Greening MP (pictured above) wrote in the executive summary to the consultation: “Parents can have assurance that wherever they live in the country their children will attract funding that reflects their needs.

“Schools and teachers will receive a consistent and fair share of the funding available, so they can help every child to reach their full potential.

“Fairer funding will equip all schools to play their part in an education system that works better for everyone.”

A spokesman from Surrey County Council – the local authority responsible for education in Epsom and Ewell – confirmed the NUT’s figures when asked if they were believed to be accurate.

To take part in the consultation, visit https://www.gov.uk/government/consultations/schools-national-funding-formula-stage-2