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Institutes of Technology: Finance

Answer

The department is delivering 21 Institutes of Technology (IoTs), which exceeds the manifesto commitment of 20, of which 19 are already open.

The department is providing up to £300 million of capital funding to the IoT programme to ensure that learners have access to high quality premises and industry standard equipment. The following capital funding has been provided since the programme commenced:

	Wave 1	Wave 2
2019/2020	£21,836,758
2020/2021	£60,772,151
2021/2022	£38,932,896	£706,258
2022/2023	£38,655,887	£5,822,800

For Wave 1, this funded 47 new facilities, which comprised of 19 new builds and 28 refurbishments. 52 IoT partners received funding for specialist equipment. Wave 2 is comprised of 30 new facility projects, including 7 new builds and 23 refurbishments. 37 partners will receive funding for specialist equipment.

IoTs are funded for participating learners in the same way as further education colleges and higher education institutions.

The number of full-time equivalent staff working at IoTs is a matter for the individual IoTs and their constituent partners. The department does not hold the information requested on how many IoTs have specially built facilities.

Secondary information

Type

Written question

Reference

7571

Session

2023-24

Grouped for answer

Yes

Subjects

Finance Institutes of technology

Contains statistics

Yes

Link

View this Written question on www.parliament.uk