Schools: Academies

Baroness McIntosh of Hudnall Excerpts

Tuesday 3rd March 2015 Lords Chamber

[Lord Nash]

I agree entirely with my noble friend, who makes the point admirably.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, would the noble Lord assist those of us who are, perhaps, not as clever as some other Members of this House and do not entirely understand the status of the money that is being held in these reserves? He said that academies are independent institutions and, of course, they are. However, they are publicly funded and the money held in those reserves is therefore, by most ordinary people’s calculation, public money. With reference to the answer he gave to the noble Lord, Lord Storey, could he explain in what way these funds are different from, say, the funds held in a charity? Are they to be used wholly and exclusively for the benefit of the institution? Can he assure the House that nobody else can benefit from them?

[Lord Nash]

I can give that assurance. They are there for the benefit of the institution, which in this case is the school in question.