§ Jacqui Smith
Proposals for a total of 208 projects seeking support from the Targeted Capital Fund have been received from 116 local education authorities. The total value of the proposals submitted is £299 million. We are currently appraising these proposals, and I aim to make an announcement before the end of this month.
Proposals to be supported will be funded as part of the £8.5 billion investment programme in school buildings over the next three years. Most of this funding is being allocated according to needs-related formulae, rather than in response to bids. This funding is in addition to more than £5 billion capital invested since 1997. Capital funding this year at over £2 billion is more than three times the £683 million spent on schools capital in 1996–97.