Block funding for schools in Tower Hamlets could fall by £84million (£2,395 per pupil) under the Government’s new fairer funding plans says Labour’s candidate for London Mayor Sadiq Khan.

The Department for Education (DfE) is intending to change the way money is allocated to schools across the country in a bid to make “funding fairer to address the historic unfairness in the system.”

But Mr Khan says after analysing figures obtained from the House of Commons Library he predicts that all but three London boroughs are expected to lose cash, with Tower Hamlets seeing the biggest loss, followed by Hackney, which could lose £51million (£2,060 per pupil) he says.

Students from Mulberry School for Girls in Tower Hamlets celebrating their A level results

Labour politicians have predicted a total loss of around £787million to London’s schools - that is equivalent to 15,500 – or one in five – teachers in London.

Mr Khan said: “London’s mums and dads will, like me, be alarmed by these plans which could see millions slashed from school funding in our city.

“London has received targeted support for schooling in the past for good reason. Some of our boroughs are among the most deprived in the country, yet in the recent past initiatives such as the London Challenge have led to London’s secondary schools leading the country.”

However, a DfE spokesman has said the figures predicted make no sense as the Government hasn’t even decided what it will do in relation to the scheme.

Britain's Secretary of State for Education Nicky Morgan

It held a consultation earlier this year in which 89% of people said they felt “existing distribution of school funding is unfair”. Another consultation is set for early 2016.

A DfE spokesperson said: “These figures are completely misleading. We have never said, or implied, that what we are trying to do is bring everyone to the average. We are committed to making funding fairer to address the historic unfairness in the system. The introduction of a national funding formula will mean that every child, no matter where they live in the country will be funded according to need - meaning areas with the highest need will attract the most funding.

“We intend to consult in the new year and we will not know the impact of any changes on individual areas until we have completed that process. We will phase the changes carefully over time, so that they are fully manageable for LAs and schools.”