The Education funding reannouncement

Yesterday I went through Ed Balls' press release wondering about reannouncements. Another press release was sent out later that day which said that the mystery £550 million that appeared in the first release is "available within the existing DCSF settlement - announced by the Chancellor yesterday to accelerate the scheme."

So the Chancellor didn't announce it yesterday at all. It was already in a budget and they've reannounced it. They have also said that "Annual capital investment will rise to £8.2 billion in 2011 - a seven-fold real terms increase since 1997, when annual capital spending was under £700 million." Does a seven-fold increase on £700 million really make £8.2bn? Even in "real terms"? I guess it's all in the maths.