A crack squad of teachers would also be set up under a Conservative government so the top talent in the profession could be swiftly despatched to classrooms that are not up to scratch.
It comes amid concerns about the time it takes to turn around badly-performing schools and the impact that can have on the education of the 100,000 pupils affected.
Experts will be consulted to help develop the “rescue package”, which will be included in the Conservatives’ general election manifesto.
The Prime Minister said: “We want to build a Britain with an education system that helps our children reach their potential and succeed in life. That’s why we’re going to rescue 500 schools and help 100,000 children get new opportunities. That’s what our long-term plan means for you – a decent education system and the chance for your child to get on.”
Regional School Commissioners (RSCs) – former headteachers and teaching experts who oversee all free schools and academies – will be given wider powers to immediately intervene in any state school ruled inadequate by watchdog Ofsted.
They will be able to order immediate personnel changes to governing bodies, introduce punishments for bad behaviour and bring in behaviour experts to implement new policies on classroom discipline.