Magazine article Public Finance

Education Funding 'At Risk from Recession'

Magazine article Public Finance

Education Funding 'At Risk from Recession'

Article excerpt

The recession might trigger a crisis in education funding, MPs have predicted.

In a report on the finances of the Department for Children, Schools and Families, the CSF select committee suggested that the economic downturn might stymie the government s spending plans for schools and colleges.

'Serious economic problems could undermine investment in education and related services and could prevent the government from achieving its objectives' the report said.

It predicted that growth in the next Spending Review would be minimal 'at best', while the slowing economy could prevent private sector investors from entering into Private Finance Initiative partnerships to fund new capital projects.

The report criticised the department - set up in June 2007 for a lack of clarity in presenting its expenditure figures, including confusion about which funding streams would pay for services and projects.

'We were greatly concerned by a lack of clarity in the presentation of some of the department's expenditure figures,' said committee chair Barry Sheerman.

'It is vital that our scrutiny is not hindered by confusion over which spending streams relate to which objectives'. …

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