Parliamentary Under-Secretary of State for Innovation, Universities and Skills, Siôn Simon, outlined that many anticipated projects in colleges were to be financed by the sale of surplus land. A slump in the value of such land and the unavailability of credit for potential vendors had severely affected the scope of such projects.
Raising expectations
He further apologised for the raising of colleges’ expectations for central funding as the £2.4 billion spent and expected £2.3 billion are insufficient to meet all needs.
Conservative MP Robert Syms called for more assertive decision making from the Government in approving college funding.
The debate was secured by Geoffrey Clifton-Brown who indicated a shortfall in funding for several colleges in his Cotswald constituency.