Free school capital funding confirmed for 7 schools
The Department for Education has today published details of the capital funding for 7 free schools, opened in September 2011, where the cost of building works has been finalised and contracts signed.
Current estimates are that the total capital costs for the first 24 Free Schools that opened in September 2011 will range from £110 million to £130 million. At the upper estimate of £130 million, this equates to 2.6 per cent of the Department’s capital budget for 2011-12, which is £5,058 million.
Many of the 2011 schools have opened in temporary accommodation or require additional building work. This will take place over the coming months and years. This means that the final capital costs for the remainder of schools are not yet finalised and contracts have not yet been signed.
It would not be sensible to release capital cost estimations for these projects until a price has been agreed and contracts have been signed. To do this would effectively ‘show our hand’ on what we expect to spend on a project. This could jeopardise value for money for the taxpayer.
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