ACADEMY SCHOOLS STASH CASH
Academy schools in England are hoarding cash balances worth nearly £2.5bn – more than £550,000 per school and draining the education sector of funds that could be spent on learning.
Figures released by the Department for Education in response to parliamentary questions show that the 4,400 academies in England held cash reserves of £2.47bn at the end of the last financial year. That is more than the remaining 18,700 local authority maintained schools put together, which held a combined £2.18bn.
