The Prime Minister's unveiled a near $400 million plan which will affect almost every school in New Zealand.

It works out to be roughly $700 per student,- and will be capped at $400,000 per school.

However, every school will receive at least 450,000, regardless of the size of the school roll.

Special schools will receive $200,000 each, regardless of its roll size.

Education Minister Chris Hipkins told The Weekend Collective the Government is in a good financial position to invest in education.

"We've got some pretty run down school facilities. We know that the money they typically get every five years as their maintenance grant isn't really helping them get ahead of some of the maintenance issues that they've got." 

National leader Simon Bridges says it's business as usual and is expected of every government.

Jacinda Ardern however rejected that suggestion. 

"It is simply not business as usual. If it were, why would this be the single largest increase schools would have seen in 25 years?"

Around 2,050 state schools opened before 2015 are eligible and the money will need to be spent within the next two years.