Tes reports that the investigation will examine whether the government should have a 10-year plan for schools and colleges, instead of the current system of three-year spending reviews.
Commons Education Select Committee chair Robert Halfon said he hoped the MPs would be able to “help to make the case” that there should be a new approach to school funding, similar to that signalled by the prime minister for the NHS.
The move comes amid continuing warnings about the effect of the funding squeeze on schools.
Mr Halfon said: “Young people are in compulsory education for around 13 years, yet government only plans investment in education every three or four years. We need to move to a situation where education funding is not driven primarily by Treasury processes but rather by a long-term strategic assessment of our national priorities for education and skills.”
The committee asked for written evidence by 30 May 2018 on the following issues:
What the Department for Education’s priorities should be for the next spending review period as they relate to schools and colleges.
Whether the spending review cycle is the best mechanism for determining overall expenditure on schools and colleges, and what that level should be.
The effectiveness of targeted funding such as the pupil premium, and its relationship to core education funding.
The practical implementation of the national funding formula.
Read more MPs launch inquiry into school funding
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