Magazine article Public Finance

Ministers Launch £50M Fund for Colleges' Capital Projects

Magazine article Public Finance

Ministers Launch £50M Fund for Colleges' Capital Projects

Article excerpt

Colleges in England are set to benefit from a share of a £50m fund for building and renovation projects.

Of this funding, £30m will be divided into 'renewal grants' of approximately £225,000 for 150 colleges. The remaining £20m will form an Enhanced Renewal Grant fund and colleges are being encouraged to bid for top-up funding of up to £lm from this.

They will also be expected to raise private investment for their projects, the Department for Business, Innovation and Skills said on June 21.

Further education minister John Hayes said many colleges were still 'reeling' from the problems that dogged last year's Learning & Skills Council's capital investment programme.

The programme was oversubscribed, resulting in funds being withheld from some approved projects after building work had begun.

'We want to make sure as many colleges as possible can benefit from this additional funding,' Hayes said. …

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