Does the real terms funding stuff come from some sort of inflation fudge? As, I assume, depending on how you treat inflation is going to have a significant distorting effect on figures during the course of this parliament.
The better funding lie is just bleating on ad infinitum about 'record levels of funding' as if growth and [controlled] inflation - ie the essence of western economics - doesn't necessitate that as a bare minimum.
Lies, damn lies and statistics.