I agree that we must open up access to education for all, including carers. Further education colleges require significant investment to upgrade and maintain their buildings and ensure that they can provide a modern learning environment and access to up-to-date technology. However, staff tell me that their ambitions for further capital investment are limited. Since colleges were brought back into public ownership, their ability to borrow money and invest in capital projects has been removed, and they must now seek permission from the Department for Education to borrow money, which is a slow process. I would appreciate the Minister outlining what the Government are doing to address the capital funding needs of further education colleges.
I would like to move on to some issues around skills training. Every year, 3.8 million people aged 19 and over access skills education in England. That is a critical part of our education system, enabling people to build rewarding careers and fulfil their dreams. Yet, across the country, businesses do not have the right skills available to deliver the services they want and we need. According to the Learning and Work Institute, the UK could face a £120 billion loss by 2030, with a projected shortfall of 2.5 million highly skilled workers.
In Saltaire in my constituency, businesses tell me that they are struggling to recruit people with digital and tech skills locally. Is that any wonder when the Conservatives cut FE funding so significantly? With the right support, FE colleges can drive productivity gains across key sectors, such as engineering, healthcare, digital technology and construction. They can supply skilled technicians and specialists, enabling businesses to expand, innovate and compete.