School Heads back plans for a new funding system for schools

"The (NAHT) National Association of Head Teachers has said it supports new proposals for a "national school funding formula".
This would mean local authorities would have little input into education spending, allowing more money to go direct to our schools.

Michael Gove, is expected to issue a white paper before the end of this year, to reallocate around £5 billion in funding for approximately 20,000 primary and secondary schools. Using a  new "fair and transparent formula"

Under these new proposals our Head teachers would be given much more responsibility for day-to-day work, which would effectively put all schools on a similar financial footing as the academies.
Academies already have a lot of freedom from Sandwell authority control.
See also

Sunday Telegraph

Sandwell Tory said “this means more money will go to our kids not to bureaucrats’”