Next year's rise - up from £619 per pupil this year - will see £1.8 billion allocated to the premium with the Government on track to allocate £2.5 billion a year in 2014/15, or around £1,200 per pupil.
David Laws will tell Lib Dem activists in Brighton the rise will mean "fully delivering" the manifesto pledge made by Nick Clegg at the last election.
But he will warn there remains "far to go" to extend opportunity to every young person in Britain's state schools. He will say:
Opportunity cannot only extend to the boundaries of the playing fields of Eton, or even Westminster.
It must be available in every school, in every community, in every part of our country. We are moving from an education system which entrenched privilege, to an education system which will hand opportunity to every child.
And not before time. Our ambitions in education must be big and bold, because there is still so far to go.