Private investors should be able to make money by helping to pay the start-up costs of new free schools, according to a Conservative MP who founded a free school. Tes reports.
The recommendation is made in a report about the future of free schools written by former Commons Education Select Committee member Suella Braverman, and published by the Centre for Policy Studies today.
Social impact bonds involve the government identifying a problem, and private investors then providing money to fix it. Whether they get paid back depends on the success of the project.
NASUWT acting general secretary Chris Keates said: “Parents should be deeply concerned by the idea that their children’s schools should be run for profit.
“A form of payment by results, as suggested in the report, could create perverse incentives for schools, which is unlikely to be in the best interests of pupils, teachers and parents.”
Read more from the report, including social investment tax relief Tory call to let investors make money from free schools
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