South Norfolk MP Richard Bacon has urged the government to ensure the progress made by academies is not lost once their start-up funding ends, as a new report finds that academies’ financial stability is being put at risk by the withdrawal of their start-up funding and uncertainty over their long-term costs.
Mr Bacon was speaking as the Commons public accounts committee published its report into the academies programme. Academies are showing signs of progress, with their GCSE performance increasing faster than that of other schools. However, the report finds that it is too early to be certain whether the academies programme will achieve its long term aims. The government does not yet know what the long-term costs of running academies will be, with 17 academies already suffering cost overruns averaging £3.2 million each. The uncertainty over costs, coupled with the withdrawal of up to £1.6 million in start-up funding for each academy, poses risks to academies’ financial stability.
Mr Bacon said today: “It is to soon to be certain that the academies programme will be a success. There are some encouraging signs of progress, but also some worrying signs of drift. The real test will come when academies’ start-up funding comes to an end. The government must keep a close watch to ensure that the progress academies have made is not lost”.
18 October 2007
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