I am today announcing a further investment of £286 million of capital funding in condition improvement of the FE college estate. An allocation of £286 million will be provided in financial years 2023-24 and 2024-25 to eligible FE colleges and designated institutions, as part of the FE Capital Transformation Programme which seeks to upgrade the FE college estate.
The allocation has been developed to prioritise and support FE colleges and designated institutions that have poor condition remaining, taking into account the investment FE colleges have secured through previous rounds of the programme. This will allow these colleges to invest in the condition improvement priorities across their estates.
The allocation is part of the FE Capital Transformation Programme, which delivers the Government’s £1.5 billion commitment to upgrade the FE college estate in England, promoting parity of esteem between FE and other routes. Improving the condition of FE colleges is important in ensuring students have the opportunity to develop their skills in high quality buildings and facilities, in order to meet skills gaps in local economies.
Through the FE Capital Transformation Programme we have already agreed approximately £1.2 billion of investment in FE colleges and designated institutions. All colleges received a share of an initial £200 million allocation provided in September 2020 to undertake immediate condition improvement works, at the same time providing a boost to the economy. We have awarded funding for 74 condition improvement projects through a competitive bidding round, with colleges now delivering these projects in their localities. The DfE is working in partnership with a further 16 colleges to address some of the worst condition college sites in England.
This funding is part of the Government’s investment of over £2.8 billion of capital investment in skills over this spending review period, ensuring our skills system can deliver the skills that the economy needs.
This investment is a key part of our skills reforms, which is providing a ladder of opportunity that enables young people and adults to get good jobs and progress in their careers. This begins with the opportunities and social justice needed to access excellent education and skills training, which lead to positive work outcomes.
Ultimately, we will help more people to achieve secure, sustained and well-paid employment, and provide opportunities for individuals to progress in their careers. This will help build the skilled workforce that businesses need, boost productivity and our economy, seize the opportunities of technological change and our net zero agenda, and level up across the country.
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