AQW 20964/22-27 Written question to the Minister of Education
To ask the Minister of Education why there were no bids for Financial Transactions Capital funding in the January Monitoring Round.
Asked by Nick Mathison MLA on 21 January 2025
- Answered
- Written
- After due date
- Tabled
- 21 January 2025
- Answer due by
- 5 February 2025
- Answered
- 14 February 202524 days after tabling
- Department
- Department of Education
- Priority question
- No
Answer
Financial Transaction Capital (FTC) funding can only be deployed by the public sector as a loan to, or equity investment in a private sector entity. The private sector entity will then use the funding to invest in related infrastructure. As schools funded via the Education Authority are classified to the central government sector, they are not eligible to receive FTC.
In short, FTC does not represent a viable alternative to the funding of my Department’s Schools Capital programmes as compared to conventional Capital DEL funding.