Academies are not state controlled -> Teachers are no longer state employees -> No more national payscales, union strikes no longer really work, no public sector pension schemes, etc.
And the new money isn't "new" - it comes out of local authority budgets. All the change does is give academies more money at the expense of comprehensives locally (robbing Peter to pay Paul) as a bribe, and takes control of that money out of the hands of experienced educational professionals and into the hands of an arbitary collection of governors, local dignitaries, businessmen, or whoever else gets onto the "academy trust".