George Osborne is set to raise £5 billion for capital projects – including £1bn for free schools and academies, it has been reported.
The chancellor is set to reveal a spending squeeze in tomorrow’s autumn statement, to fund new schools, along with transport and science schemes.
It will be done by asking departments to save an extra 1 per cent next year and a further 2 per cent the following year.
It has been reported that £1bn will be released to build 100 new free schools and academies.
Front line services will be shielded, according to the BBC.