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The Lib Dems have pledged to spend almost twice as much as Labour on education including a £1.4 billion investment for cash-strapped London schools.

The party have promised to raise £7bn to reverse Tory school cuts and would hike up corporation tax and axe spending on new grammars to pay for it.

The exact percentage increase to corporation tax will not be released publicly by the party until they release their manifesto.

Labour have said their school investment would be funded by a six percent corporation tax rise from 19 to 26 percent.

Lib Dem leader Tim Farron said their funding injection would help the capital’s 1500 institutions facing shrinking budgets.

Newham, Tower Hamlets, Hackney, Lambeth, Southwark, Lewisham are all in the top 10 local authorities in the country that would receive the most extra funding under proposals.

All five authorities would get between £58 million and £69 million extra.

Liberal Democrat Richmond Park candidate Sarah Olney said: “London is set to be hit hardest by Conservative changes to school funding, with over 1,500 schools across the capital facing budget cuts.

“This is on top of the biggest cuts to funding per pupil in a generation.

“We would reverse these crippling cuts and ensure no child and no school loses out.”

Both Labour and the Lib Dems have today promised to pay for education by raising corporation tax, however both the Tories and Lib Dems claim Labour have pledged to use the tax several times over.

