Key points

* UK education spending will rise from pound;53.7 billion this year to pound;68.4bn in 2005-6

* This means education's share of national income will rise from 5.1 per cent now to 5.6 per cent in 2005-6

* Capital spending will increase to pound;7bn in 2005-6, compared to pound;680 million in 1996-7

* From next year grants paid directly to schools will increase by pound;10,000 for an average primary school and by pound;50,000 for secondaries

* A new "ladder" of schools will be headed by 300 "advanced specialist schools", which will help to raise the standards of the rest

* A leadership improvement grant of pound;125,000 per year will go to 1,400 low-attaining schools if they agree to take radical steps to improve - including replacing the head if necessary

* Grants of up to pound;30 a week to encourage 16 to 19-year-olds from low-income families to stay on in education are to be extended nationwide

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