§ Mr. Andrew SmithTo ask the Secretary of State for Education and Science if he will make a statement on his intentions with regard to regulations governing revenue and capital expenditure by incorporated polytechnics.
Mr. JacksonRevenue and capital expenditure by incorporated polytechnics will be covered, as appropriate, in the financial memoranda which the Polytechnics and Colleges Funding Council (PCFC) will conclude with each institution in the polytechnics and colleges funding sector. The PCFC will conclude such memoranda having regard to what is required of it in the financial memorandum720W governing relations between the council and the Department. The Department is currently consulting interested parties, including the PCFC itself and bodies representative of institutions, about the content of that memorandum.