Transforming the financing of education at the mid-point of the sustainable development goals

Abstract

The failure to address strategic issues in the financing of education is undermining progress towards SDG4. The Heads of State ‘Transforming Education Summit’ (TES) at the United Nations General Assembly in September 2022 outlined a progressive new agenda on financing. This new agenda includes recommending a much deeper engagement by the education community, nationally and internationally, in addressing action on tax reform, action on debt and action on wider macroeconomic policies around austerity. The TES finance agenda calls for a more strategic dialogue on financing between different ministries and argues that education spending needs to be understood as investment not consumption. Whilst it is now clear what needs to be done to transform the financing of education, little progress has been made over the past year in assuming this bold agenda.