Taylor Vinters - Solicitors

Published by Alison Gamble

Barclays Bank has announced it is to provide funding for the creation of new free schools and academies across the UK after agreeing a new partnership with the government.

However, Westminster has come under fire for the deal, with the National Union of Teachers claiming the move blurs the line between education and commercial interests, although Barclays has been quick to point out that its initiative is aimed squarely at improving educational standards across the country.

Barclays has agreed to offer up to £1 million in funding for any group which hopes to open its own free school, while the firm has also set aside a £15 million investment which it plans to use to set up courses to help young people better understand the responsibilities of sensible money management.

Chief executive of Barclays retail and business banking Antony Jenkins told BBC News: "It's a sizeable commitment.

"We really do believe in the power of education to create social mobility, to create powerful effects in people's lives and to create economic growth, which of course is important to us as a bank."

Education secretary Michael Gove gave his backing to the deal, adding: "Thanks to this commitment and generous package, students, teachers and governors will benefit enormously."

The academies and free schools system form part of the government's measures to improve educational standards in the UK, with these establishments receiving public funding to operate and free to set up for any group which feels their children could benefit from attending a new school in their area.

It follows a recent announcement by the Department for Education that the government plans to overhaul the way teaching professionals are assessed in the UK, with proposals aimed at reducing the amount of red tape educational establishments have to deal with when disciplining and removing ineffectual teachers.

Please contact Christine Berry, Head of Education for further information or call 01223 225281