Schools minister Will Quince has announced that the Department for Education plans to use £6.6 million in contingency funding for establishing the Oak National Academy as an arm’s-length body.
The amount would come as an advance from the Contingencies Fund, which can be drawn from in unexpected circumstances or emergencies.
Mr Quince said that accessing the Contingencies Fund will allow the department to “manage the expenditure associated with establishing and launching the new body”.
In a written statement this week, Mr Quince said he will seek parliamentary approval for additional resources of £2,809,000 and capital of £3,869,000 in a Supplementary Estimate for the Department for Education.
He added: “Pending that approval, urgent expenditure estimated at £6,678,000 will be met by repayable cash advances from the Contingencies Fund.”
He said the advance will be repaid upon receiving parliamentary approval for the funding.
