Academies Enterprise Trust: Finance

(asked on 27th February 2019) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, pursuant to the Answer of 6 February 2019 to Question 217588, Academies Enterprise Trust: Finance, how much of the £4.5 million provided to date is non-recoverable; and how much of the £3.06 million used for redundancies is non-recoverable.


Answered by
Nick Gibb Portrait
Nick Gibb
This question was answered on 7th March 2019

£1.2 million of the £4.5 million provided to the Academies Enterprise Trust (AET) was provided as non-recoverable deficit funding. £646,443 of the £3.06 million earmarked for restructuring costs, which will include redundancy payments, was provided as non-recoverable deficit funding. The non-recoverable deficit funding provided has helped stabilise AET’s finances and support its long-term viability. AET is the largest multi-academy trust in the country responsible for over 60 academies and over 33,000 pupils.

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