HC Deb 23 July 1997 vol 298 cc594-5W
Sir Richard Body

To ask the Secretary of State for Education and Employment what plans he has for the future of TECs. [7912]

Dr. Howells

The Government value the work of TECs and the commitment given by so many business and community leaders through their involvement with the TEC movement. As strong employer-led strategic bodies TECs are well placed to play an important role in supporting the Government's objectives. Over the summer, we will be working with them through our Government offices for the regions to see how they may best re-focus their activities in line with the Government's priorities.

Sir Richard Body

To ask the Secretary of State for Education and Employment if he will make a statement on the amount of reserves held by TECs. [7911]

Dr. Howells

At the end of the financial year 1995–96, total reserves held by training and enterprise councils were almost £260 million. That is the most recent year for which information is available. TECs have provided further information which reports that the total reserves comprised £51 million for investment in capital assets, £86 million for working capital and £123 million for discretionary expenditure. Of the sum available for discretionary expenditure, TECs report that £102 million was committed for planned expenditure in 1996–97 and beyond for training, enterprise and economic regeneration activities. TEC reserves are already being used extensively to support local labour market needs. I am confident that TECs will now be able to contribute with their reserves to the challenging agenda set out in our manifesto for education, training and lifelong learning.