Mark Hoban's post on Conservative Home:
http://www.conservativehome.com/platform/2013/10/mark-hoban-mp-its-time-for-academies-to-have-the-freedom-to-borrow.html
Mark Hoban - lost job on front benches in October
If schools are already at capacity, they can bid for money from the Education Funding Agency, but if they are unsuccessful then parental choice can’t be satisfied. Academies could try to fund expansion themselves by borrowing, but Treasury rules prohibit this as it would count as part of government debt. Surely it is time to lift this barrier to parental choice. If each of the almost 3,400 secondary school academies borrowed £0.5m this year, this would be the equivalent of only 1.4 per cent of this year’s borrowing requirement. Isn’t it time that academies, that have so many freedoms already, have the freedom to borrow so more parents can choose the right school for their children?
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