In Our Statement of Priorities—Better skills, Better jobs, Better lives, published in November 2007, it was stated that we will invest £2.3 billion between 2008-09 and 2010-11 to ensure that colleges have world-class buildings.
The original annual capital grant allocations to the Learning and Skills Council (LSC) were set out as follows:
Amount (£ million) 2008-09 694 2009-10 820 2010-11 850
These figures include the total LSC capital budget which includes funding for both 16 to 19-year-olds and adults.
However, as announced in the last pre-Budget report, investment of £110 million for 2009-10 has been brought forward into 2008-09, and a further £110 million for 2010-11 has been brought forward into 2009-10. This is in support of this Government's actions to help beat the current global economic downturn.
The revised annual capital grant allocations to the LSC are subsequently as follows:
Amount (£ million) 2008-09 804 2009-10 820 2010-11 740
As announced in the last pre-Budget report, investment of £110 million for 2009-10 has been brought forward into 2008-09, and a further £110 million for 2010-11 has been brought forward into 2009-10.
This accelerated funding will be spent to bring forward building works, benefiting learners and regenerating communities, and will help us beat the current global economic downturn.