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OPEN MARKET BORROWING MAY BE POSSIBLE FOR OPT-OUT SCHOOLS

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The government is considering allowing grant-maintained schools to borrow on the open market, Sir Timothy Lankester...
The government is considering allowing grant-maintained schools to borrow on the open market, Sir Timothy Lankester, permanent secretary at the department of education, told the Commons public accounts committee, the Times Higher Education Supplement reports (p2).

Under the proposals schools would be able to borrow against their buildings or future income.

Labour party committee members accused the government of double standards over its insistence that local authority schools should pay the teachers' 2.7% rise out of reserves, while commending GM schools for holding reserves.
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