To ask the Secretary of State for Education and Employment if he will list the balance held by each TEC at the end of 1996–97. [4290]

A list of Training and Enterprise Councils (TECs), their surpluses and accumulated reserves, as shown in their audited annual statutory accounts, at the end of the financial year 1995–96 is shown in the following table. This is the most recent year for which information is available.TECs are allowed to generate surpluses and create reserves by subcontracting training at a lower unit price than that negotiated with the Department. Surpluses are used by TECs on activities in support of their corporate and business plan objectives which are agreed with the Government.TECs have provided further information which reports that the total reserves of almost £260 million comprised £51 million for investment in capital assets, £86 million for working capital and £123 million for discretionary expenditure. Of the sum available for discretionary expenditure, TECs report that £102 million was earmarked for planned expenditure in 1996–97 and beyond, for training, enterprise and economic regeneration initiatives.