This is in addition to a £350 million to increase per-pupil school budgets in areas with the least fairly distributed funding.
However, there will be a real-terms freeze in schools' overall budgets. Christine Blower, general secretary of the National Union of Teachers, said: "Reductions in education funding have led to cuts in provision such as breakfast and after school clubs, music lessons, SEN support and the Education Maintenance Allowance which helped students stay on in education.
"The half a million teachers in this country will find little to welcome either. Their pay is worth less, they are working longer hours and they can expect lower pensions when they retire."
The campaign aims to tackle the worrying decline in reading for pleasure, with reading rates among young people dropping to its lowest level since 2005,
Almost half (46 per cent) of teachers across Europe do not think schools are equipping students with the skills needed for an AI future — a concern shared by two in five teachers in the UK (41 per cent).
An additional £20 million of funding has been allocated to support essential capital repairs and maintenance across schools and colleges in Wales this year.
Now in its 17th year, the Education Business Awards continue to recognise and celebrate the outstanding work, dedication, and achievements of schools and academies across the UK.