Lots of teachers are asking what the purpose of the GTCE is; they have been asking that question for years. I must ask the hon. Gentleman to reflect on where the resources should go. Should they go to quangos or to the front line? He listens to teachers, and I listen to teachers. They want resources on the front line, in the classroom, raising attainment; they do not want them spent on the bureaucratic bodies that have for too long siphoned money from where it needs to be spent.
Critically, I know that many hon. Members will want to ask why we are not honouring their commitment to spend £250 on the child trust fund. Let me take that question head on. When the Labour Government left office, they ensured that every single child was paying £23,000 of debt every year in order to deal with our deficit. Why is it progressive politics to saddle children with £23,000 of debt in order to give them a financial product worth just £250? That is not progressive politics; it is Maxwell economics. Instead of seeking to defend its financial mismanagement, the Labour party should apologise to the House and to the next generation for saddling them with a national debt so huge that it undermines our capacity to make progress.