Spending on education is to increase by almost £400m a year by 2010-11 compared to 2006-07, the Finance Minister Peter Robinson announced today.
And he said that allocations to the Department for Employment and Learning would increase by 35% in 2010-11 compared to 2006-07.
From a total £90m Innovation funding programme, the Department of Education will receive an additional £11m for projects, including the development of schools specialising in science, technology, engineering and mathematics (STEM) subjects as well as the development of the curriculum for STEM projects more generally.
And the Department for Employment and Learning will receive an additional £40m over the next three years to fund projects including additional PhD science studentships, cross-border university research and support to the further education sector to deliver the skills base required to attract mobile investment projects.
Following a strong campaign from youth groups, youth service funding also received an extra £4.6m boost today.
Peter Scott, from the NASUWT teachers' union, said he welcomed any increase in spending for education.
However, he warned that the many changes ahead for education would need to be adequately funded.
"There are huge issues ahead, including the establishment of the Education and Skills Authority and the move towards a 14-19 agenda in place of the 11-plus."