Further Education: Public Works Loan Board

Treasury written question – answered on 1st September 2020.

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Photo of Steve Barclay Steve Barclay The Chief Secretary to the Treasury

Loans from the Public Works Loan Board (PWLB) should support Local Authorities to deliver services, build and maintain housing, and regenerate their local areas. Only Local Authorities have access to PWLB loans and HM Treasury has no plans to extend the provision of PWLB loans to other organisations.

At Budget 2020, the Government announced it will invest £1.5 billion (£1.8 billion including indicative Barnett consequentials) over five years in capital spending to refurbish Further Education colleges, of which £200m has been brought forward for spend in the current financial year. The Government has continued to pay grant funded providers their scheduled payments for the remainder of the 2019-20 academic year.

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