School Finances

Part of Oral Answers to Questions — Children, Schools and Families – in the House of Commons at 2:30 pm on 12th November 2007.

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Photo of Jim Knight Jim Knight Minister of State (Schools and Learners), Department for Children, Schools and Families, Minister of State (Department for Children, Schools and Families) (Schools and Learners) 2:30 pm, 12th November 2007

As I made clear in my statement of 30 October, schools and local authorities must work to reduce revenue balances substantially over the next three years, making full use of existing local authority clawback powers, because revenue funding is for today's pupils and capital funding is for future investment. The operation of a modest surplus year on year makes sound financial sense but, at £1.7 billion, the national total is unacceptable, and if balances remain high we will act to release some of the money for the benefit of current pupils.

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