Colleges Receive Boost with GBP50 Million Fund

Tue, 22 Jun 2010

Amid continuing cuts, Britain’s colleges are set to receive a welcome boost with the news that the Department for Business, Innovation and Skills has set aside £50 million for building and renovation projects at colleges across the country. £30 million of this money will be divided into ‘renewal grants’ of approximately £225,000 for 150 colleges, with the remaining £20 million set to form an Enhanced Renewal Grant fund from which colleges may seek extra funding. The government has said that colleges will be expected to raise further private investment in the majority of cases where they wish to expand projects.

Further Education Minister John Hayes commented that he hoped the fund would help colleges to recover from the Learning and Skills Council’s funding debacle of last year, which quickly became oversubscribed leaving many colleges who had been promised funding without a single penny. Given the cuts being made to university funding, as well as to schools and college funding, the new fund has been gratefully welcomed by the Association of Colleges, whose assistant chief executive, Julian Gravatt, labelled the fund as ‘welcome’ and ‘helpful’.
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