Thought I'd share this. I wrote to Michael saying that we'd take the cash rather than the free bible as we already had 30 copies in school. This is the reply.
I had to chuckle. 
'Thank you for your email of 26 November, addressed to Secretary of State, about the 1611 King James Bible. I hope you are able to appreciate the Secretary of State for Education receives a vast amount of correspondence and is unable to reply to each one personally. It is for this reason I have been asked to reply.
The King James Bible has a unique place in British culture and it has shaped the identity of this country by influencing our history, language and democracy.
This year celebrates its 400th anniversary and the Government plans to mark this important event by sending an authentic facsimile of the King James Bible to schools. It is hoped that all children ? of any faith or none ? will be able to appreciate this important national icon, which has had such a profound impact. The King James Bible has a symbolic status for this country that goes beyond its purpose as a religious text. The Government believes it is relevant to all young people who want to understand the language, history and culture of this country. This gift to schools will mark a unique anniversary which will inspire teachers and pupils alike, and leave a legacy of knowledge and understanding.
This anniversary provides a unique opportunity for all pupils to experience and learn about the literary, cultural and historical context of the King James Bible. It contains the roots of our democracy, as well as the origins of our language.
The costs are still being finalised but are likely to be approximately £377,000. This comprises production and delivery and may be further reduced by philanthropic sponsorship. There will be full transparency about costs when finalised. At this stage the Government are satisfied that these costs represent value for money, given the quality of this artefact and its potential role in curricular and extra-curricular learning.
The Prime Minister will formally announce this later in the year, when more details will be available.
Thank you for taking the time to write.' etc etc