Surplus public sector assets to be used for new model of education delivery

The head of the Governments’ school building agency, Partnerships for Schools, is due to step down from his current post to establish a social investment company, to provide a new public/private partnership model for school provision, as reported by the Financial Times. Tim Byles, who is due to set up the new project, ‘Cornerstone’ has said the new company will have “public-sector values, private-sector discipline and private-sector capital”. The idea is that the venture will purchase surplus assets from the public sector, invest in new infrastructure for education and local services and make a commercial return for investors; with the company’s surplus going to charity. The project is designed to address the current shortage of school places and underinvestment in education infrastructure, whilst pioneering new models in public/private sector partnerships for service delivery.

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