What is the SES funding scheme?

It means funding for each child is based on the socio-economic status (SES) of where the child lives.

This is the first time school funding has been based on actual student needs, rather than assumptions about "school" wealth.

But the SES funding principle is only applied within the Independent sector. The poorest Independent students are still granted at most 70% of a rich student's (or any student's) allotment in a state-run school.