Almost £10 billion of funding will be available for new schools capital projects over the next four financial years, CNplus understands.
Chancellor George Osborne today allocated a capital budget of £15.8bn to the Department for Education over the four years from 2011/12 to 2014/15.
CN understands that about £6bn will be needed to fund 600 existing projects through the axed Building Schools for the Future scheme and the academies programme.
That would leave just short of £10bn for projects arising through the schools procurement system to be recommended by the government-commissioned capital review team.
Mr Osborne said: “The Department for Education will have to find resource savings of 1 per cent. The capital budget will have to take its share.
“We have had to phase out the hopelessly inefficent Building Schools for the Future scheme but we will fund the rebuild and refurbishment of 600 schools.”
The £55bn BSF programme was abandoned in July, but schemes that had got to certain stages of procurement and construction were allowed to continue in various forms.
A capital reveiw team will report back to the government before Christmas on its recommendations for a system to replace BSF and the Primary Capital Programme.
It is understood that the money will be chanelled into new school provision in areas of demographic pressure as well as essential maintenance.
CN understands that the capital review team will recommend a schools building system heavily reliant on offsite manufacturing.