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  1. ITV Report

Further £2.3bn building fund for expansion of schools and colleges

Credit: PA

A £2.3 billion building fund to meet high demand and surplus places in schools and colleges has been announced by the Welsh Government.

The money is the second wave of investment into the flagship 21st Century Schools and Education Programme - a major, long-term and strategic capital investment programme.

It is aimed at tackling growth in Welsh medium education, surplus places, and expansion of schools and colleges in areas of increased demand for education services.

Announcements on individual Band B projects will be made in conjunction with local authorities in due course.

Education Secretary Kirsty Williams says it's the 'largest investment' in schools and colleges in Wales.

I am committed to raising standards, reducing the attainment gap and delivering an education system from the ground up that is a source of national pride and confidence. The 21st Century Schools and Education Programme is one of the means to achieve this ambition and represents the largest investment in our schools and colleges since the 1960s.

The first wave of funding provided though the Programme will see investment of more than £1.4 billion over the five year period ending 2019, supporting the rebuild and refurbishment of more than 150 schools and colleges across the Wales.

This is why I am delighted to announce a second wave of investment for the Programme, which will begin in April 2019.

– Kirsty Williams AM, Education Secretary

Band A of the Programme will conclude in 2019 after a £1.4bn spend over five-years.

The second wave of investment, Band B, will comprise two funding streams; one using traditional capital, and one using revenue funding, via a new form of Public Private Partnership called the Mutual Investment Model (MIM).