Further education colleges offered access to funding

Tue 22 Jun 2010

The government has invited further education colleges in England to bid for money to be used on building projects.

Colleges will be eligible to apply for a share of a £50 million fund if they have not received more than £5 million from the Skills Funding Agency for previous construction works.

Further education minister John Hayes said this could make a big difference to college campuses across the country.

He described colleges as an "invaluable" resource that benefits communities by providing young people with various courses and training.

This, he stated, can prove vital to businesses, employers and the wider economy.

Geoff Russell, chief executive of the Skills Funding Agency, added that the organisation is pleased colleges are being offered this opportunity at a time when the public sector is having to make efficiency savings.

He said this demonstrates the "crucial role" that further education colleges have to play in stimulating the economy.

Andrea Squires, a partner at Winckworth Sherwood Solicitors, commented: "Colleges will be pleased that some money is being made available in the current very challenging economy, but this is relatively a very small amount of money and colleges will have to work hard for the investment to make a difference.

"Colleges might want to look at ways of using this grant to leverage private sector investment."

Chancellor of the exchequer George Osborne has meanwhile confirmed that over the next four years, education spending in England could come down by as much as a quarter.