(9 years, 9 months ago)
Lords ChamberIs it not enormously sensible for the governors of our academies to hold reserves at the end of a Parliament, when they have no idea what the policy may be in the future? We also have low inflation at this time, and I imagine that a fair number of them are preparing for capital works based on their reserves.
(9 years, 10 months ago)
Lords ChamberIs my noble friend aware that he is surely right? Local authority inspections are one thing but, in addition, there are a whole host of charitable foundations that have Ofsted inspections—but that is, again, in a different framework.